Investors Sell Shares of Apple Inc. (AAPL) on Strength on Insider Selling
Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Wednesday after an insider sold shares in the company. $894.01 million flowed into the stock on the tick-up and $1,017.03 million flowed out of the stock on the tick-down, for a money net flow of $123.02 million out of the stock. Of all stocks tracked, Apple had the 2nd highest net out-flow for the day. Apple traded up $0.98 for the day and closed at $161.06Specifically, SVP D Bruce Sewell sold 31,625 shares of Apple stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $158.13, for a total value of $5,000,861.25. Following the sale, the senior vice president now directly owns 112,430 shares in the company, valued at $17,778,555.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the sale, the insider now owns 3,414 shares in the company, valued at $528,145.80. The disclosure for this sale can be found here. In the last three months, insiders sold 299,911 shares of company stock worth $46,557,634. Corporate insiders own 0.08% of the company’s stock.
AAPL has been the topic of a number of analyst reports. Drexel Hamilton restated a “buy” rating and issued a $202.00 price target on shares of Apple in a research note on Thursday, July 6th. Instinet restated a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $168.00 price target on shares of Apple in a research note on Tuesday, June 6th. Credit Suisse Group restated an “outperform” rating and issued a $170.00 price target on shares of Apple in a research note on Tuesday, July 25th. Finally, Macquarie lifted their price target on Apple from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Thirteen research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $167.32.
The firm has a market cap of $832.65 billion, a price-to-earnings ratio of 18.29 and a beta of 1.31. The company has a 50-day moving average of $148.85 and a 200 day moving average of $143.79. Apple also saw unusually large options trading activity on Tuesday. Stock investors bought 139,415 put options on the company. This represents an increase of approximately 119% compared to the average volume of 63,733 put options.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.56%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
Apple declared that its Board of Directors has approved a share repurchase program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several institutional investors have recently modified their holdings of AAPL. Stone House Investment Management LLC raised its position in shares of Apple by 0.4% in the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after buying an additional 6 shares during the period. FC Advisory LLC raised its position in shares of Apple by 0.4% in the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after buying an additional 10 shares during the period. Stonehearth Capital Management LLC raised its position in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the period. Lenox Wealth Advisors Inc. raised its position in shares of Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares during the period. Finally, BerganKDV Wealth Management LLC raised its position in shares of Apple by 0.4% in the second quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock worth $809,000 after buying an additional 20 shares during the period. Institutional investors own 61.13% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.watchlistnews.com/investors-sell-shares-of-apple-inc-aapl-on-strength-on-insider-selling/1466685.html.
Apple Company Profile
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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.