Investors Sell Apple Inc. (AAPL) on Strength Following Insider Selling
Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Thursday after an insider sold shares in the company. $581.80 million flowed into the stock on the tick-up and $809.26 million flowed out of the stock on the tick-down, for a money net flow of $227.46 million out of the stock. Of all companies tracked, Apple had the highest net out-flow for the day. Apple traded up $1.91 for the day and closed at $155.39Specifically, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $158.13, for a total value of $5,000,861.25. Following the transaction, the senior vice president now owns 112,430 shares in the company, valued at approximately $17,778,555.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 541,177 shares of company stock worth $85,864,804 in the last 90 days. 0.08% of the stock is currently owned by insiders.
Several research analysts have recently commented on the company. Vetr upgraded Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target on the stock in a report on Friday, September 22nd. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Wednesday, June 21st. Nomura reiterated a “buy” rating and set a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Maxim Group lifted their price target on Apple from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 19th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $180.00 price target on shares of Apple in a report on Tuesday, September 26th. Nine equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $189.60.
The firm has a market cap of $802.62 billion, a PE ratio of 17.64 and a beta of 1.27. The firm’s 50 day moving average is $158.23 and its 200 day moving average is $150.89.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the prior year, the business earned $1.42 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post $9.01 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of AAPL. Janus Henderson Group PLC lifted its stake in shares of Apple by 301.3% in the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after purchasing an additional 15,018,790 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Apple by 14,030.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after purchasing an additional 4,483,360 shares during the period. Capital Research Global Investors lifted its stake in shares of Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Apple by 200.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock valued at $686,338,000 after purchasing an additional 3,178,809 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Apple by 25.3% in the 2nd quarter. Principal Financial Group Inc. now owns 10,582,632 shares of the iPhone maker’s stock valued at $1,524,110,000 after purchasing an additional 2,138,928 shares during the period. 60.36% of the stock is currently owned by hedge funds and other institutional investors.
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Apple Company Profile
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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