Investors Buy Shares of Apple Inc. (AAPL) on Weakness on Insider Selling
Traders purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Friday following insider selling activity. $655.06 million flowed into the stock on the tick-up and $418.27 million flowed out of the stock on the tick-down, for a money net flow of $236.79 million into the stock. Of all equities tracked, Apple had the highest net in-flow for the day. Apple traded down ($0.09) for the day and closed at $155.30Specifically, insider Craig Federighi sold 63,163 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $158.07, for a total transaction of $9,984,175.41. Following the sale, the insider now directly owns 359,988 shares in the company, valued at approximately $56,903,303.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 541,177 shares of company stock worth $85,864,804 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.
AAPL has been the topic of several analyst reports. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Monday, July 31st. Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price target on shares of Apple in a report on Saturday, July 22nd. KeyCorp reiterated an “equal weight” rating on shares of Apple in a report on Friday, August 4th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Wednesday, June 21st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $177.00 price target on shares of Apple in a report on Friday, June 16th. Nine research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $189.61.
The company has a market cap of $802.16 billion, a price-to-earnings ratio of 17.63 and a beta of 1.27. The firm has a 50-day moving average price of $158.00 and a 200-day moving average price of $151.02.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the business earned $1.42 earnings per share. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post $9.01 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Stone House Investment Management LLC increased its stake in Apple by 0.4% in the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after purchasing an additional 6 shares in the last quarter. FC Advisory LLC increased its stake in Apple by 0.4% in the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after purchasing an additional 10 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in Apple by 0.3% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock worth $782,000 after purchasing an additional 17 shares in the last quarter. Stonehearth Capital Management LLC increased its stake in Apple by 0.8% in the 1st quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after purchasing an additional 20 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. increased its stake in Apple by 0.4% in the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after purchasing an additional 20 shares in the last quarter. 60.36% of the stock is currently owned by hedge funds and other institutional investors.
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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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