Apple (NASDAQ:AAPL) SVP Sells $842,912.64 in Stock

Apple Inc. (NASDAQ:AAPL) SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $351.36, for a total transaction of $842,912.64. Following the transaction, the senior vice president owned 27,598 shares of the company’s stock, valued at $9,696,833.28. This represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Jennifer Newstead also recently made the following trade(s):

• On Tuesday, November 3rd, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $325.75, for a total transaction of $781,474.25.
• On Tuesday, October 27th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $343.36, for a total transaction of $823,720.64.
• On Tuesday, October 20th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $339.62, for a total transaction of $814,748.38.
• On Tuesday, October 13th, Jennifer Newstead sold 2,399 shares of Apple stock. The stock was sold at an average price of $345.00, for a total transaction of $827,655.00.
• On Tuesday, October 6th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99.
• On Tuesday, September 29th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $336.18, for a total transaction of $806,495.82.
• On Tuesday, September 22nd, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $340.06, for a total transaction of $815,803.94.
• On Tuesday, September 15th, Jennifer Newstead sold 1,438 shares of Apple stock. The stock was sold at an average price of $330.19, for a total value of $474,813.22.
• On Tuesday, September 8th, Jennifer Newstead sold 1,438 shares of Apple stock. The stock was sold at an average price of $317.23, for a total value of $456,176.74.
• On Tuesday, September 1st, Jennifer Newstead sold 1,439 shares of Apple stock. The stock was sold at an average price of $317.01, for a total value of $456,177.39.

Apple Stock Performance

Shares of NASDAQ AAPL traded down $0.75 during mid-day trading on Thursday, hitting $354.88. The company had a trading volume of 31,760,706 shares, compared to its average volume of 48,597,884. The company has a market capitalization of $5.16 trillion, a price-to-earnings ratio of 40.37, a P/E/G ratio of 3.42 and a beta of 1.07. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $359.37. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $338.48 and its 200-day moving average price is $300.56.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. The company had revenue of $114.48 billion for the quarter, compared to analyst estimates of $113.40 billion. Apple had a return on equity of 125.35% and a net margin of 27.60%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS. On average, sell-side analysts forecast that Apple Inc. will post 9.45 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 12th. Apple’s payout ratio is presently 12.04%.

More Apple News

These are some of the AAPL news items that stood out recently:

• Positive Sentiment: Apple recently reached a record high, with one analyst describing the stock as a “safe haven” amid market turmoil. CIBC also included AAPL among its post-election stock picks. Apple Stock Called ‘Safe Haven,’ Hits Record High
• Neutral Sentiment: Google is bringing its Gemini assistant to Apple CarPlay, adding a new AI feature for iPhone users. The partnership may improve CarPlay’s utility, though the assistant is Google’s service rather than Apple’s. Google Brings Gemini Live to Apple CarPlay
• Negative Sentiment: Higher memory-chip prices are a near-term margin risk. Apple’s December-quarter gross-margin outlook was reported below analyst expectations, despite record quarterly sales, raising concerns that component costs could weigh on profitability. Why Apple Stock Fell Despite a Record Quarter

Institutional Trading of Apple

A number of large investors have recently modified their holdings of the business. Avenir Tech Ltd purchased a new position in Apple in the second quarter worth $29,000. Ironwood Wealth Management Inc. bought a new position in Apple in the third quarter valued at $34,000. Longfellow Investment Management Co. LLC bought a new position in Apple in the second quarter valued at $30,000. ABS Investment Management LLC purchased a new stake in Apple during the second quarter valued at about $376,168,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Apple during the third quarter valued at about $107,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citic Securities increased their price target on shares of Apple from $300.00 to $349.00 in a report on Thursday, August 6th. DZ Bank lowered shares of Apple from a “hold” rating to a “sell” rating and set a $300.00 price objective for the company. in a research report on Wednesday, November 4th. China Renaissance raised shares of Apple from a “hold” rating to a “buy” rating and set a $425.00 price objective for the company in a research note on Wednesday. Yorkville Ives initiated coverage on shares of Apple in a report on Tuesday, October 6th. They set an “outperform” rating and a $400.00 target price on the stock. Finally, Morgan Stanley set a $350.00 target price on shares of Apple and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $347.11.

Apple Company Profile

Apple Inc. designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS. The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple’s devices and are sold to consumers, businesses and institutions around the world. Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.