Looking at the Telstra Group Ltd (ASX: TLS) share price over the past four months or so, and one thing will probably stand out more than anything else – what a horrible time this famous ASX 200 telco stock has had.
Back in mid-June, Telstra shares were riding high. The telco giant had just minted a fresh new 52-week high of $4.46, which was the highest the company had traded at since 2017. Telstra was then up a significant 60% or so from its 2020 nadir of close to $2.50 a share.
Investors were buoyed that the telco could be about to unlock significant shareholder value by separating out some of its valuable infrastructure assets. Plus, the cherished Telstra dividend was once again climbing after staying static for more than three years. All was well in the world.
But fast forward to yesterday, and we had Telstra closing at just $3.81 a share. That's down almost 14% from those June highs.
With this in mind, many faithful ASX investors might be wondering whether this is a compelling buying opportunity for Telstra. Especially considering that this 14% share price drop has pushed up the famous and fully-franked Telstra dividend yield to 4.46%.
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Telstra insider buys $100,000 worth of shares
Well, one investor certainly does. And it's no ordinary retail investor. It happens to be Telstra board member and non-executive director Craig Dunn.
According to an ASX release from earlier in the week, Dunn has just picked up almost 26,000 new Telstra shares, worth approximately $100,000. The purchase was made on-market and indirectly through the Dunn Family Super Fund.
It takes Dunn's ownership stake from 700 direct shares and 69,373 indirect shares up to 700 direct shares and 95,347 indirect shares.
So clearly Dunn is seeing some value in the current Telstra share price, considering he has just upped his family super fund's stake by almost 40%.
That's certainly something that any ASX investor looking at the Telstra share price today might want to keep in mind.
Telstra shares have now lost 3.54% in 2023 to date. Check that out below, as well as the telco's trajectory between June and the present day:
