Investors Sell Shares of Apple Inc. (NASDAQ:AAPL) on Strength After Insider Selling


Traders sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Tuesday after an insider sold shares in the company. $417.46 million flowed into the stock on the tick-up and $598.20 million flowed out of the stock on the tick-down, for a money net flow of $180.74 million out of the stock. Of all equities tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $0.47 for the day and closed at $145.53Specifically, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $153.88, for a total value of $5,385,800.00. Following the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at $179,775,388.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Johny Srouji sold 10,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $153.20, for a total value of $1,532,000.00. Following the completion of the transaction, the senior vice president now directly owns 96,738 shares in the company, valued at approximately $14,820,261.60. The disclosure for this sale can be found here. In the last three months, insiders sold 305,500 shares of company stock worth $46,455,746. Insiders own 0.08% of the company’s stock.

A number of brokerages have recently commented on AAPL. UBS AG reaffirmed a “buy” rating and set a $151.00 price target on shares of Apple in a research report on Monday, April 24th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $150.00 price target on shares of Apple in a research report on Wednesday, April 12th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $120.00 price target on shares of Apple in a research report on Monday, April 17th. FBN Securities upped their price target on Apple from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $130.00 price target on shares of Apple in a research report on Tuesday, June 6th. Twelve research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $167.57.

The firm’s 50-day moving average price is $147.04 and its 200 day moving average price is $142.60. The company has a market cap of $808.50 billion, a PE ratio of 17.76 and a beta of 1.31.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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 firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post $9.00 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.

Apple announced that its board has approved a share repurchase program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the company. Saratoga Research & Investment Management increased its stake in Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after buying an additional 4,137 shares in the last quarter. Pinnacle Bank bought a new stake in Apple during the first quarter worth approximately $1,924,000. Norges Bank bought a new stake in Apple during the fourth quarter worth approximately $5,625,709,000. Perigon Wealth Management LLC increased its stake in Apple by 5.9% in the fourth quarter. Perigon Wealth Management LLC now owns 147,469 shares of the iPhone maker’s stock worth $20,613,000 after buying an additional 8,233 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new stake in Apple during the fourth quarter worth approximately $7,910,000. 61.17% of the stock is currently owned by hedge funds and other institutional investors.

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About Apple

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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