Sen. Adam B. Schiff Sells Off Shares of Apple Inc. (NASDAQ:AAPL)

Senator Adam B. Schiff (D-California) recently sold shares of Apple Inc. (NASDAQ:AAPL). In a filing disclosed on September 30th, the Senator disclosed that they had sold between $15,001 and $50,000 in Apple stock on September 22nd.

Apple Price Performance

Shares of NASDAQ AAPL opened at $257.13 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market cap of $3.82 trillion, a PE ratio of 39.02, a P/E/G ratio of 2.48 and a beta of 1.09. The business has a 50-day simple moving average of $232.20 and a two-hundred day simple moving average of $214.38. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 earnings per share. As a group, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. BMO Capital Markets restated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Rosenblatt Securities boosted their price objective on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Finally, Jefferies Financial Group lifted their price target on Apple from $190.67 to $205.82 and gave the stock a “hold” rating in a research note on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $247.51.

Institutional Investors Weigh In On Apple

Several large investors have recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC boosted its position in shares of Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Norges Bank acquired a new stake in shares of Apple in the 2nd quarter valued at about $38,942,255,000. Nuveen LLC acquired a new stake in shares of Apple in the 1st quarter valued at about $17,472,482,000. GAMMA Investing LLC boosted its position in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the period. Finally, PKS Advisory Services LLC boosted its position in shares of Apple by 98,917.0% in the 2nd quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker’s stock valued at $12,106,000 after purchasing an additional 57,898,088 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

About Senator Schiff

Adam Schiff (Democratic Party) is a member of the U.S. Senate from California. He assumed office on December 9, 2024. His current term ends on January 3, 2031.

Schiff (Democratic Party) ran in a special election to the U.S. Senate to represent California. He won in the special general election on November 5, 2024.

Schiff also ran for election to the U.S. Senate to represent California. He won in the general election on November 5, 2024.

Adam Schiff was born in Framingham, Massachusetts. Schiff earned a B.A. from Stanford University in 1982 and a J.D. from Harvard University in 1985. His career experience includes working as a prosecutor with the Office of the United States Attorney for the Central District of California.

About Apple

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.