Investors Sell Apple Inc. (NASDAQ:AAPL) on Strength (NASDAQ:AAPL)
Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Tuesday. $495.65 million flowed into the stock on the tick-up and $724.92 million flowed out of the stock on the tick-down, for a money net flow of $229.27 million out of the stock. Of all stocks tracked, Apple had the 7th highest net out-flow for the day. Apple traded up $0.65 for the day and closed at $152.74
Several research analysts recently commented on AAPL shares. Vetr upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $146.43 target price for the company in a report on Monday, March 27th. J P Morgan Chase & Co increased their target price on shares of Apple from $142.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, March 27th. FBR & Co restated an “outperform” rating and set a $155.00 target price on shares of Apple in a report on Tuesday, March 28th. UBS AG restated a “buy” rating and set a $175.00 target price (down previously from $200.00) on shares of Apple in a report on Tuesday, March 28th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $120.00 price target on shares of Apple in a research note on Wednesday, March 29th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $159.22.
The company has a market cap of $796.36 billion, a PE ratio of 17.92 and a beta of 1.31. The firm’s 50-day moving average is $147.28 and its 200-day moving average is $141.20.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.08. The business had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. Apple had a return on equity of 35.09% and a net margin of 20.74%. On average, analysts forecast that Apple Inc. will post $8.90 earnings per share for the current year.
Apple announced that its board has approved a stock repurchase plan on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, insider Angela J. Ahrendts sold 75,000 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $147.98, for a total value of $11,098,500.00. Following the completion of the sale, the insider now owns 154,116 shares of the company’s stock, valued at $22,806,085.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Luca Maestri sold 4,757 shares of the 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 directly owns 3,414 shares of the company’s stock, valued at approximately $528,145.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 373,000 shares of company stock valued at $56,497,046. Insiders own 0.08% of the company’s stock.
Several large investors have recently bought and sold shares of AAPL. FC Advisory LLC boosted its stake in Apple by 0.4% in the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after buying an additional 10 shares during the period. Stonehearth Capital Management LLC boosted its stake in Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after buying an additional 20 shares during the period. Lenox Wealth Advisors Inc. boosted its stake in Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after buying an additional 20 shares during the period. BerganKDV Wealth Management LLC boosted its stake in Apple by 0.4% in the second quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock valued at $809,000 after buying an additional 20 shares during the period. Finally, Noven Financial Group Inc. boosted its stake in Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock valued at $857,000 after buying an additional 22 shares during the period. 61.23% of the stock is owned by hedge funds and other institutional investors.
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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.
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