Investors Sell Shares of Apple Inc. (AAPL) on Strength on Insider Selling
Traders sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Thursday following insider selling activity. $762.33 million flowed into the stock on the tick-up and $1,129.81 million flowed out of the stock on the tick-down, for a money net flow of $367.48 million out of the stock. Of all stocks tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $0.65 for the day and closed at $164.00Specifically, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 444,879 shares of company stock valued at $70,864,495. Insiders own 0.08% of the company’s stock.
AAPL has been the subject of several recent research reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $202.00 price target on shares of Apple in a report on Thursday, July 6th. Instinet reaffirmed a “buy” rating and issued a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Apple in a report on Tuesday, June 6th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie upped their price target on Apple from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $168.67.
The stock has a market capitalization of $847.36 billion, a PE ratio of 18.63 and a beta of 1.31. The company’s 50 day moving average is $156.36 and its 200-day moving average is $147.86.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 earnings per share. Equities research analysts forecast that Apple Inc. will post $9.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.54%. Apple’s dividend payout ratio is presently 28.64%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. boosted its position in Apple by 0.6% in the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after buying an additional 834,854 shares during the last quarter. Norges Bank bought a new position in Apple during the fourth quarter valued at $5,625,709,000. Capital Research Global Investors boosted its position in Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares during the last quarter. Legal & General Group Plc boosted its position in Apple by 3.0% in the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after buying an additional 771,046 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares during the last quarter. 60.43% of the stock is owned by hedge funds and other institutional investors.
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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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