Investors Sell Apple (AAPL) on Strength (AAPL)
Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Tuesday. $970.53 million flowed into the stock on the tick-up and $1,010.50 million flowed out of the stock on the tick-down, for a money net flow of $39.97 million out of the stock. Of all stocks tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $1.40 for the day and closed at $222.19
Several brokerages recently issued reports on AAPL. BTIG Research upgraded Apple to a “buy” rating and raised their price objective for the stock from $207.00 to $235.00 in a research note on Wednesday, August 1st. Macquarie set a $214.00 price objective on Apple and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Morgan Stanley restated a “buy” rating and set a $232.00 price objective on shares of Apple in a research note on Wednesday, August 22nd. S&P Equity Research raised their price objective on Apple to $250.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group began coverage on Apple in a research note on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $220.14.
The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. The stock has a market capitalization of $1,092.09 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33.
In other news, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 15,652 shares of the firm’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $190.18, for a total value of $2,976,697.36. Following the transaction, the chief operating officer now directly owns 125,258 shares in the company, valued at $23,821,566.44. The disclosure for this sale can be found here. Insiders have sold 378,400 shares of company stock worth $81,052,754 over the last three months. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AAPL. PICTET BANK & TRUST Ltd grew its holdings in Apple by 0.5% during the second quarter. PICTET BANK & TRUST Ltd now owns 45,134 shares of the iPhone maker’s stock worth $8,355,000 after acquiring an additional 240 shares during the period. Somerset Group LLC grew its holdings in Apple by 2.4% during the second quarter. Somerset Group LLC now owns 10,683 shares of the iPhone maker’s stock worth $1,978,000 after acquiring an additional 249 shares during the period. Wsfs Capital Management LLC grew its holdings in Apple by 2.0% during the second quarter. Wsfs Capital Management LLC now owns 13,051 shares of the iPhone maker’s stock worth $2,416,000 after acquiring an additional 260 shares during the period. Investment Partners LTD. grew its holdings in Apple by 4.9% during the second quarter. Investment Partners LTD. now owns 5,594 shares of the iPhone maker’s stock worth $1,036,000 after acquiring an additional 263 shares during the period. Finally, Keating Investment Counselors Inc. grew its holdings in Apple by 8.2% during the second quarter. Keating Investment Counselors Inc. now owns 3,511 shares of the iPhone maker’s stock worth $650,000 after acquiring an additional 266 shares during the period. 58.54% of the stock is currently owned by institutional investors.
About Apple (NASDAQ:AAPL)
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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