Traders Sell Shares of Apple Inc. (AAPL) on Strength (AAPL)
Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Wednesday. $74.85 million flowed into the stock on the tick-up and $114.89 million flowed out of the stock on the tick-down, for a money net flow of $40.04 million out of the stock. Of all stocks tracked, Apple had the highest net out-flow for the day. Apple traded up $0.12 for the day and closed at $162.20
A number of brokerages have recently issued reports on AAPL. Barclays PLC reaffirmed a “hold” rating and issued a $146.00 target price on shares of Apple in a report on Monday. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of Apple in a report on Tuesday. Robert W. Baird reaffirmed a “buy” rating and issued a $172.00 target price on shares of Apple in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of Apple from $176.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, September 1st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Apple in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $168.89.
The company’s 50-day moving average is $156.93 and its 200 day moving average is $148.33. The company has a market capitalization of $836.30 billion, a price-to-earnings ratio of 18.38 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 earnings per share. On average, analysts expect that Apple Inc. will post $9.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.56%. Apple’s dividend payout ratio is currently 28.64%.
In other Apple news, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Johny Srouji sold 10,469 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the completion of the transaction, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The disclosure for this sale can be found here. In the last three months, insiders sold 432,930 shares of company stock valued at $69,008,577. Corporate insiders own 0.08% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Intl Fcstone Inc. grew its stake in Apple by 171.1% in the 2nd quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock worth $4,569,000 after buying an additional 20,022 shares in the last quarter. Griffin Asset Management Inc. purchased a new position in Apple in the 2nd quarter worth approximately $7,126,000. Gs Investments Inc. purchased a new position in Apple in the 2nd quarter worth approximately $4,180,000. Aldebaran Financial Inc. grew its stake in Apple by 5.1% in the 2nd quarter. Aldebaran Financial Inc. now owns 25,732 shares of the iPhone maker’s stock worth $3,706,000 after buying an additional 1,255 shares in the last quarter. Finally, Navellier & Associates Inc grew its stake in Apple by 8.7% in the 2nd quarter. Navellier & Associates Inc now owns 12,642 shares of the iPhone maker’s stock worth $1,821,000 after buying an additional 1,010 shares in the last quarter. 60.44% of the stock is owned by institutional investors and hedge funds.
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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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