Investors Sell Apple Inc. (AAPL) on Strength After Insider Selling
Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Thursday after an insider sold shares in the company. $504.49 million flowed into the stock on the tick-up and $687.75 million flowed out of the stock on the tick-down, for a money net flow of $183.26 million out of the stock. Of all companies tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $0.84 for the day and closed at $113.89Specifically, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at $10,583,900. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction on Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Several equities analysts recently issued reports on the company. RBC Capital Markets reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Apple in a report on Friday, August 5th. Vetr downgraded Apple from a “hold” rating to a “sell” rating and set a $103.98 price target for the company. in a research report on Monday, August 8th. Wells Fargo & Co. reissued a “market perform” rating on shares of Apple in a research report on Friday, September 9th. BMO Capital Markets reissued an “outperform” rating and set a $116.00 price target (down previously from $118.00) on shares of Apple in a research report on Thursday, July 21st. Finally, Macquarie reissued an “outperform” rating and set a $115.00 price target on shares of Apple in a research report on Friday, August 26th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-one have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $126.13.
The company has a market capitalization of $614.61 billion, a price-to-earnings ratio of 13.30 and a beta of 1.22. The firm’s 50 day moving average price is $110.36 and its 200 day moving average price is $103.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.04. The firm earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 EPS. On average, equities research analysts expect that Apple Inc. will post $8.26 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Tufton Capital Management increased its stake in shares of Apple by 22.9% in the first quarter. Tufton Capital Management now owns 6,158 shares of the iPhone maker’s stock worth $671,000 after buying an additional 1,148 shares during the period. F&V Capital Management LLC increased its stake in shares of Apple by 1.1% in the first quarter. F&V Capital Management LLC now owns 9,330 shares of the iPhone maker’s stock worth $1,016,000 after buying an additional 100 shares during the period. Gradient Investments LLC increased its stake in shares of Apple by 239.0% in the first quarter. Gradient Investments LLC now owns 53,165 shares of the iPhone maker’s stock worth $5,794,000 after buying an additional 37,484 shares during the period. Independent Portfolio Consultants Inc. increased its stake in shares of Apple by 19.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 56,670 shares of the iPhone maker’s stock worth $6,176,000 after buying an additional 9,105 shares during the period. Finally, Financial Consulate Inc. increased its stake in shares of Apple by 1.2% in the first quarter. Financial Consulate Inc. now owns 27,180 shares of the iPhone maker’s stock worth $2,962,000 after buying an additional 320 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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