Investors Sell Shares of Apple (AAPL) on Strength (AAPL)
Traders sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Wednesday. $740.95 million flowed into the stock on the tick-up and $1,005.17 million flowed out of the stock on the tick-down, for a money net flow of $264.22 million out of the stock. Of all stocks tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $0.57 for the day and closed at $172.27
Several equities research analysts have issued reports on the stock. Vetr upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $166.96 price objective for the company in a research report on Thursday, August 17th. UBS restated a “buy” rating and set a $180.00 price objective on shares of Apple in a research report on Tuesday, September 12th. Nomura set a $185.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Monday, September 25th. KeyCorp upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and raised their price objective for the stock from $173.75 to $187.00 in a research report on Monday, October 16th. Finally, Royal Bank of Canada lifted their price target on shares of Apple from $180.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $197.57.
The firm has a market cap of $884,487.94, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, November 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.46%. Apple’s dividend payout ratio is currently 27.39%.
In other Apple news, SVP Johny Srouji sold 5,760 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the sale, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip W. Schiller sold 56,808 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. Insiders have sold 232,967 shares of company stock worth $37,944,683 in the last quarter. Company insiders own 0.08% of the company’s stock.
A number of hedge funds have recently modified their holdings of AAPL. Parametric Portfolio Associates LLC lifted its stake in shares of Apple by 4.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 12,109,070 shares of the iPhone maker’s stock valued at $1,866,250,000 after buying an additional 479,466 shares in the last quarter. Vista Private Wealth Partners. LLC purchased a new stake in shares of Apple during the 3rd quarter valued at approximately $329,000. Sage Capital Advisors llc lifted its stake in shares of Apple by 58.0% during the 3rd quarter. Sage Capital Advisors llc now owns 27,157 shares of the iPhone maker’s stock valued at $4,185,000 after buying an additional 9,972 shares in the last quarter. Shelton Capital Management lifted its stake in shares of Apple by 2.3% during the 3rd quarter. Shelton Capital Management now owns 437,397 shares of the iPhone maker’s stock valued at $67,412,000 after buying an additional 9,758 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its stake in shares of Apple by 0.3% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,062,892 shares of the iPhone maker’s stock valued at $163,813,000 after buying an additional 2,830 shares in the last quarter. 59.78% of the stock is owned by institutional investors and hedge funds.
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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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