D Bruce Sewell Sells 31,625 Shares of Apple Inc. (AAPL) Stock
Apple Inc. (NASDAQ:AAPL) SVP D Bruce Sewell sold 31,625 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the transaction, the senior vice president now owns 112,430 shares of the company’s stock, valued at $17,778,555.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Apple Inc. (AAPL) traded up 0.61% during trading on Wednesday, hitting $161.06. 26,112,040 shares of the company’s stock were exchanged. Apple Inc. has a 12-month low of $102.53 and a 12-month high of $161.83. The firm has a market cap of $832.65 billion, a price-to-earnings ratio of 18.29 and a beta of 1.31. The company’s 50-day moving average price is $148.85 and its 200 day moving average price is $143.79. Apple also was the recipient of some unusual options trading activity on Tuesday. Traders acquired 139,415 put options on the stock. This is an increase of 119% compared to the average daily volume of 63,733 put options.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 EPS. Equities analysts forecast that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, August 10th. Apple’s dividend payout ratio (DPR) is 28.64%.
Apple declared that its board has authorized a stock repurchase plan on Tuesday, May 2nd that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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AAPL has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on shares of Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, May 22nd. Rosenblatt Securities set a $120.00 price objective on shares of Apple and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Canaccord Genuity reiterated a “buy” rating and set a $180.00 price target on shares of Apple in a report on Monday, July 10th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $170.00 price target (up from $164.00) on shares of Apple in a report on Friday, May 12th. Finally, Morgan Stanley upped their price target on shares of Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Thirteen research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $167.19.
Several institutional investors have recently bought and sold shares of AAPL. Blue Sky Asset Management LLC purchased a new position in Apple during the second quarter valued at $108,000. Hefty Wealth Partners raised its position in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 174 shares during the period. American Beacon Advisors Inc. purchased a new position in Apple during the first quarter valued at $117,000. Armbruster Capital Management Inc. raised its position in Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in Apple during the second quarter valued at $149,000. 61.13% of the stock is owned by hedge funds and other institutional investors.
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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