Traders Sell Apple Inc. (AAPL) on Strength (AAPL)
Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Thursday. $440.22 million flowed into the stock on the tick-up and $549.43 million flowed out of the stock on the tick-down, for a money net flow of $109.21 million out of the stock. Of all companies tracked, Apple had the 2nd highest net out-flow for the day. Apple traded up $0.65 for the day and closed at $105.87
Several equities analysts have recently issued reports on AAPL shares. Piper Jaffray Cos. restated an “overweight” rating and set a $153.00 price objective on shares of Apple in a report on Tuesday, July 26th. Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Apple in a report on Wednesday, July 20th. Sanford C. Bernstein cut their price objective on shares of Apple from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, July 18th. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $107.09 price objective on the stock in a report on Monday, June 20th. Finally, Robert W. Baird restated an “outperform” rating and set a $110.00 price objective on shares of Apple in a report on Sunday, July 24th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $126.12.
The company’s 50 day moving average is $98.23 and its 200-day moving average is $99.56. The firm has a market cap of $570.47 billion and a PE ratio of 12.34.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. The company’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share. On average, equities analysts anticipate that Apple Inc. will post $8.26 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, August 4th. This represents a $2.28 annualized dividend and a yield of 2.15%.
In related news, SVP D Bruce Sewell sold 103,300 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $96.78, for a total transaction of $9,997,374.00. Following the transaction, the senior vice president now directly owns 239,432 shares in the company, valued at $23,172,228.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Johny Srouji sold 8,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $99.75, for a total value of $798,000.00. Following the transaction, the senior vice president now owns 116,460 shares in the company, valued at $11,616,885. The disclosure for this sale can be found here.
Other institutional investors have recently modified their holdings of the company. Agran Libbie raised its position in shares of Apple by 9,945.6% in the fourth quarter. Agran Libbie now owns 21,121,496 shares of the iPhone maker’s stock valued at $22,232,000 after buying an additional 20,911,240 shares in the last quarter. BlackRock Investment Management LLC increased its stake in Apple by 6.3% in the fourth quarter. BlackRock Investment Management LLC now owns 16,440,812 shares of the iPhone maker’s stock worth $1,730,560,000 after buying an additional 968,302 shares during the last quarter. Cibc World Markets Corp increased its stake in Apple by 119.9% in the fourth quarter. Cibc World Markets Corp now owns 4,248,267 shares of the iPhone maker’s stock worth $447,173,000 after buying an additional 2,316,765 shares during the last quarter. US Bancorp DE increased its stake in Apple by 0.5% in the fourth quarter. US Bancorp DE now owns 4,146,624 shares of the iPhone maker’s stock worth $436,473,000 after buying an additional 21,412 shares during the last quarter. Finally, Korea Investment CORP increased its stake in Apple by 7.4% in the fourth quarter. Korea Investment CORP now owns 3,385,553 shares of the iPhone maker’s stock worth $356,363,000 after buying an additional 234,500 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.