Investors Buy Apple (AAPL) on Weakness Following Insider Selling
Traders bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Tuesday following insider selling activity. $1,719.91 million flowed into the stock on the tick-up and $1,566.45 million flowed out of the stock on the tick-down, for a money net flow of $153.46 million into the stock. Of all equities tracked, Apple had the 3rd highest net in-flow for the day. Apple traded down ($0.60) for the day and closed at $199.50Specifically, insider Luca Maestri sold 51,138 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the sale, the insider now directly owns 27,448 shares in the company, valued at $5,396,551.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Arthur D. Levinson sold 1,521 shares of Apple stock in a transaction on Friday, February 1st. The stock was sold at an average price of $167.71, for a total transaction of $255,086.91. Following the transaction, the director now directly owns 1,134,804 shares of the company’s stock, valued at approximately $190,317,978.84. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
AAPL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating and set a $228.00 price target on shares of Apple in a report on Friday, January 11th. Royal Bank of Canada reissued a “buy” rating and issued a $185.00 price objective on shares of Apple in a research note on Friday, January 18th. ValuEngine lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Credit Suisse Group reaffirmed a “hold” rating and set a $182.00 target price on shares of Apple in a research note on Sunday, March 31st. Finally, Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $145.69 target price for the company. in a report on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $202.06.
The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30. The company has a market cap of $968.28 billion, a P/E ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.14.
A number of institutional investors have recently modified their holdings of AAPL. Semmax Financial Advisors Inc. bought a new stake in Apple in the 4th quarter valued at about $50,000. Portfolio Solutions LLC purchased a new stake in shares of Apple during the 4th quarter valued at approximately $76,000. Contravisory Investment Management Inc. lifted its stake in shares of Apple by 30.6% during the 4th quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after buying an additional 144 shares in the last quarter. Truehand Inc purchased a new stake in shares of Apple during the 4th quarter valued at approximately $108,000. Finally, INR Advisory Services LLC bought a new position in Apple in the 4th quarter worth approximately $124,000. Institutional investors and hedge funds own 57.38% of the company’s stock.
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Apple Company Profile (NASDAQ:AAPL)
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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