Rep. Richard Allen's July 14 trade: selling Abbott to buy AMD and Broadcom
As seen on the 24/7 Wall St. homepage on August 18, 2026.
- ABT Abbott Laboratories Common Stock (ABT)Sell$15K – $50K
- AMD Advanced Micro Devices, Inc. (AMD)Buy$1K – $15K
- AVGO Broadcom Inc. - Common Stock (AVGO)Buy$1K – $15K
A single July 14 rotation out of healthcare and into AI silicon: the Abbott sale was the largest leg of the three, funding smaller buys in AMD and Broadcom. The filing landed 35 days later, as Congress debates limiting lawmaker stock trading.
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Representative Richard W. Allen sold Abbott Laboratories stock in the $15K to $50K range on July 14 and routed the proceeds into Advanced Micro Devices and Broadcom the same day. The Abbott sale was the largest of the three legs, funding the rotation.
The move repositions Allen's disclosed portfolio away from a large-cap medical devices and diagnostics company and toward two prominent names in the AI semiconductor supply chain. Broadcom has become a key supplier of custom AI chips and networking silicon, while AMD competes directly in the GPU and data-center accelerator market.
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The filing arrived on August 18, a full 35 days after the trades were executed. That lag is disclosed in the filing itself and lands in the middle of an active congressional debate over whether lawmakers should be permitted to trade individual stocks at all.
Investors tracking congressional disclosures get a clean, same-day sector rotation here, which makes the intent of the trade easy to read.