Chris Kondo Sells 3,752 Shares of Apple (NASDAQ:AAPL) Stock

Apple Inc. (NASDAQ:AAPL) insider Chris Kondo sold 3,752 shares of Apple stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. This trade represents a 19.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Apple Stock Down 0.2%

Shares of AAPL opened at $272.95 on Friday. The company has a market capitalization of $4.03 trillion, a P/E ratio of 41.42, a PEG ratio of 2.62 and a beta of 1.08. Apple Inc. has a one year low of $169.21 and a one year high of $277.32. The business’s 50 day simple moving average is $255.27 and its 200-day simple moving average is $226.41. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Reyes Financial Architecture Inc. increased its holdings in shares of Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after acquiring an additional 37 shares during the last quarter. American Alpha Advisors LLC increased its stake in Apple by 3.7% during the third quarter. American Alpha Advisors LLC now owns 1,151 shares of the iPhone maker’s stock valued at $293,000 after purchasing an additional 41 shares during the last quarter. Capstone Wealth Management LLC raised its holdings in shares of Apple by 0.5% during the third quarter. Capstone Wealth Management LLC now owns 8,537 shares of the iPhone maker’s stock worth $2,174,000 after purchasing an additional 42 shares during the period. Seven Springs Wealth Group LLC lifted its position in shares of Apple by 0.3% in the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock worth $3,934,000 after buying an additional 42 shares during the last quarter. Finally, Avant Capital LLC boosted its holdings in shares of Apple by 0.9% in the 3rd quarter. Avant Capital LLC now owns 4,814 shares of the iPhone maker’s stock valued at $1,226,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AAPL. Citigroup reissued a “buy” rating and set a $315.00 price objective (up previously from $245.00) on shares of Apple in a report on Friday, October 31st. Robert W. Baird set a $300.00 price target on shares of Apple in a research note on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Sanford C. Bernstein set a $325.00 price objective on Apple in a report on Monday, November 3rd. Finally, Wedbush reiterated an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.