Apple (NASDAQ:AAPL) Insider Ben Borders Sells 116 Shares

Apple Inc. (NASDAQ:AAPL) insider Ben Borders sold 116 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ben Borders also recently made the following trade(s):

• On Friday, May 8th, Ben Borders sold 1,274 shares of Apple stock. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00.

Apple Trading Down 1.1%

NASDAQ AAPL opened at $295.95 on Thursday. The firm’s 50-day moving average is $288.06 and its two-hundred day moving average is $272.66. Apple Inc. has a 12 month low of $195.07 and a 12 month high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $4.35 trillion, a P/E ratio of 35.79, a PEG ratio of 2.61 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. Apple’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. This is a boost from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is currently 13.06%.

Wall Street Analyst Weigh In

AAPL has been the topic of several research reports. Barclays reissued an “underweight” rating on shares of Apple in a research report on Tuesday, June 9th. Maxim Group reissued a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Monness Crespi & Hardt increased their price target on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Evercore reissued an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Finally, Tigress Financial reissued a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.59.

Hedge Funds Weigh In On Apple

Several hedge funds have recently added to or reduced their stakes in the stock. Evansbrook LLC increased its stake in Apple by 0.4% in the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock valued at $2,054,000 after purchasing an additional 34 shares during the last quarter. JMG Financial Group Ltd. increased its stake in Apple by 0.7% in the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock valued at $1,295,000 after purchasing an additional 35 shares during the last quarter. Reyes Financial Architecture Inc. increased its stake in Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares during the last quarter. WESPAC Advisors LLC increased its stake in Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 39 shares during the last quarter. Finally, Interactive Financial Advisors Inc. increased its stake in Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after purchasing an additional 40 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America reiterated a Buy rating on Apple (AAPL) and maintained a $380 target, pointing to pricing power and supply-chain strength. Article Title
• Positive Sentiment: Apple appears better positioned than peers to handle the AI-driven memory shortage because it built up inventory and has scale to absorb supply pressure. Article Title
• Neutral Sentiment: Apple reportedly plans product price increases as memory and storage chip costs rise, which could help margins but may also test consumer demand. Article Title
• Neutral Sentiment: Apple is reportedly working on new AI wearables and a foldable iPhone for 2027, which supports the long-term product pipeline but is too far out to move near-term results. Article Title
• Negative Sentiment: Italy opened a Digital Markets Act probe into Apple’s cloud interoperability practices, creating another regulatory risk in Europe. Article Title

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.