Investors Sell Apple (AAPL) on Strength (AAPL)
Traders sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Tuesday. $1,423.51 million flowed into the stock on the tick-up and $1,538.88 million flowed out of the stock on the tick-down, for a money net flow of $115.37 million out of the stock. Of all stocks tracked, Apple had the 11th highest net out-flow for the day. Apple traded up $0.36 for the day and closed at $218.24
AAPL has been the topic of several research reports. BidaskClub lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Wells Fargo & Co reaffirmed a “neutral” rating and issued a $210.00 target price on shares of Apple in a research report on Friday, August 10th. Morgan Stanley increased their target price on Apple from $214.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 24th. Bank of America increased their target price on Apple from $250.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Finally, BMO Capital Markets increased their target price on Apple from $171.00 to $184.00 and gave the stock a “market perform” rating in a research report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty have issued a buy rating to the stock. Apple currently has a consensus rating of “Buy” and a consensus price target of $217.53.
The company has a market capitalization of $1,100.20 billion, a P/E ratio of 23.70, a PEG ratio of 1.97 and a beta of 1.32. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 15,652 shares of the firm’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $190.18, for a total transaction of $2,976,697.36. Following the completion of the transaction, the chief operating officer now directly owns 125,258 shares in the company, valued at approximately $23,821,566.44. The disclosure for this sale can be found here. Insiders sold 378,400 shares of company stock worth $81,052,754 in the last three months. 0.06% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. Summit Trail Advisors LLC raised its holdings in shares of Apple by 17,669.4% during the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after buying an additional 20,067,124 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Apple by 18,553.3% during the second quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock valued at $89,526,000 after buying an additional 16,668,866 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Apple during the first quarter valued at approximately $830,026,000. Private Advisor Group LLC raised its holdings in shares of Apple by 1,185.5% during the second quarter. Private Advisor Group LLC now owns 4,320,770 shares of the iPhone maker’s stock valued at $800,386,000 after buying an additional 3,984,643 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Apple during the second quarter valued at approximately $706,904,000. 58.54% of the stock is currently owned by institutional investors.
About Apple (NASDAQ:AAPL)
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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