Traders Sell Shares of Apple Inc. (AAPL) on Strength (AAPL)
Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Monday. $482.47 million flowed into the stock on the tick-up and $581.20 million flowed out of the stock on the tick-down, for a money net flow of $98.73 million out of the stock. Of all stocks tracked, Apple had the 2nd highest net out-flow for the day. Apple traded up $1.00 for the day and closed at $107.73
A number of analysts have recently commented on AAPL shares. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $153.00 price target on shares of Apple in a research note on Tuesday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of Apple in a research note on Wednesday, July 20th. Vetr cut Apple from a “hold” rating to a “sell” rating and set a $105.47 price target for the company. in a research note on Monday, August 15th. Sanford C. Bernstein lowered their price target on Apple from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, July 18th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Apple in a research note on Wednesday, August 3rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $124.84.
The company’s 50-day moving average is $105.36 and its 200 day moving average is $101.29. The firm has a market cap of $580.50 billion and a price-to-earnings ratio of 12.56.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. During the same quarter in the prior year, the company posted $1.85 EPS. The business had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. Analysts predict that Apple Inc. will post $8.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $2.28 annualized dividend and a dividend yield of 2.12%.
In related news, SVP Angela J. Ahrendts sold 35,797 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total value of $3,579,700.00. Following the transaction, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Johny Srouji sold 9,827 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $108.44, for a total value of $1,065,639.88. Following the completion of the transaction, the insider now directly owns 116,369 shares in the company, valued at $12,619,054.36. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC increased its position in Apple by 0.9% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 26,428 shares of the iPhone maker’s stock valued at $2,783,000 after buying an additional 238 shares during the last quarter. TrimTabs Asset Management LLC increased its position in Apple by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 19,930 shares of the iPhone maker’s stock valued at $2,098,000 after buying an additional 372 shares during the last quarter. Genesee Valley Trust Co. increased its position in Apple by 5.5% in the fourth quarter. Genesee Valley Trust Co. now owns 17,223 shares of the iPhone maker’s stock valued at $1,813,000 after buying an additional 898 shares during the last quarter. Flippin Bruce & Porter Inc. increased its position in Apple by 2.0% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 72,655 shares of the iPhone maker’s stock valued at $7,648,000 after buying an additional 1,417 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. increased its position in Apple by 0.9% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 198,920 shares of the iPhone maker’s stock valued at $20,939,000 after buying an additional 1,703 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.
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