Traders Sell Apple Inc. (AAPL) on Strength (AAPL)
Traders 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 equities tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $0.12 for the day and closed at $162.20
Several brokerages have recently commented on AAPL. UBS AG reissued a “buy” rating and issued a $170.00 price objective on shares of Apple in a research note on Saturday, May 20th. KeyCorp reissued a “hold” rating on shares of Apple in a research note on Thursday. Instinet reissued a “buy” rating and issued a $185.00 price objective (up from $175.00) on shares of Apple in a research note on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and issued a $160.08 price objective (down from $176.00) on shares of Apple in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of Apple in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the company. Apple has an average rating of “Buy” and an average target price of $168.89.
The stock has a 50-day moving average of $157.56 and a 200 day moving average of $148.52. The firm has a market capitalization of $832.94 billion, a PE ratio of 18.31 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The firm 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. Equities analysts forecast that Apple Inc. will post $9.02 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio (DPR) is presently 28.64%.
In other news, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock valued at $69,008,577 in the last 90 days. Company insiders own 0.08% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Intl Fcstone Inc. lifted its stake in shares of 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 acquiring an additional 20,022 shares during the period. Griffin Asset Management Inc. acquired a new stake in shares of Apple in the 2nd quarter worth $7,126,000. Gs Investments Inc. acquired a new stake in shares of Apple in the 2nd quarter worth $4,180,000. Aldebaran Financial Inc. lifted its stake in shares of 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 acquiring an additional 1,255 shares during the period. Finally, Navellier & Associates Inc lifted its stake in shares of 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 acquiring an additional 1,010 shares during the period. Institutional investors own 60.44% of the company’s stock.
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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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