Jeffery S. McElfresh, Chief Operating Officer of AT&T (T), has demonstrated a clear selling bias in his recent insider transactions, with $31.9 million in total sales compared to just $622,148 in purchases across 64 reported trades. His activity has been concentrated exclusively in AT&T shares, with no recent transactions in other companies. The most significant disposals occurred on January 29, 2026, when McElfresh executed two separate sales totaling $4.14 million each, alongside derivative transactions valued at $4.2 million. Earlier that month, on January 15, he sold shares worth $345,130 and $187,534. Smaller but consistent sales continued through early 2026, including two $98,235 transactions on March 10 and multiple sub-$80,000 dispositions in late February.
McElfresh's acquisitions have been comparatively modest, with the largest being a $55,183 purchase on January 30, 2026, and several others below $20,000 in late 2025 and early 2026. The pattern suggests a strategic reduction in his AT&T position, particularly given the scale of January's disposals. While some smaller buys indicate ongoing equity participation, the overwhelming volume and value of sales—especially the multi-million-dollar transactions—point to a sustained divestment trend. The absence of recent trades in 2026 beyond March suggests a potential pause in activity, though the historical data reveals a consistent, years-long emphasis on selling.
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