Insider Selling: Apple Inc. (AAPL) Insider Sells 64,500 Shares of Stock
Apple Inc. (NASDAQ:AAPL) insider Craig Federighi sold 64,500 shares of Apple stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $153.62, for a total transaction of $9,908,490.00. Following the completion of the transaction, the insider now directly owns 447,151 shares of the company’s stock, valued at $68,691,336.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Apple Inc. (NASDAQ:AAPL) traded up 0.35% during mid-day trading on Thursday, hitting $153.87. The company had a trading volume of 19,228,082 shares. The company has a market cap of $802.25 billion, a PE ratio of 18.05 and a beta of 1.26. The company’s 50 day moving average price is $147.23 and its 200-day moving average price is $130.41. Apple Inc. has a one year low of $91.50 and a one year high of $156.65.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. The company had revenue of $52.90 billion for the quarter, compared to analyst estimates of $52.61 billion. Apple had a return on equity of 34.94% and a net margin of 20.73%. Equities research analysts anticipate that Apple Inc. will post $8.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.64%. Apple’s payout ratio is 27.31%.
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Several large investors have recently made changes to their positions in the company. Independent Franchise Partners LLP increased its position in shares of Apple by 1.7% in the third quarter. Independent Franchise Partners LLP now owns 7,627,854 shares of the iPhone maker’s stock worth $862,328,000 after buying an additional 126,479 shares in the last quarter. Argentus Capital Management LLC increased its position in shares of Apple by 26.1% in the third quarter. Argentus Capital Management LLC now owns 21,008 shares of the iPhone maker’s stock worth $2,375,000 after buying an additional 4,352 shares in the last quarter. Hochman Cole Investment Advisors Inc. increased its position in shares of Apple by 4.1% in the third quarter. Hochman Cole Investment Advisors Inc. now owns 12,158 shares of the iPhone maker’s stock worth $1,375,000 after buying an additional 483 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. increased its position in shares of Apple by 0.5% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 8,847,389 shares of the iPhone maker’s stock worth $1,000,197,000 after buying an additional 44,406 shares in the last quarter. Finally, Pekin Singer Strauss Asset Management IL increased its position in shares of Apple by 0.5% in the third quarter. Pekin Singer Strauss Asset Management IL now owns 33,361 shares of the iPhone maker’s stock worth $3,771,000 after buying an additional 166 shares in the last quarter. 58.76% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on AAPL shares. Oppenheimer Holdings Inc. reaffirmed a “” rating on shares of Apple in a report on Wednesday, February 22nd. UBS Group AG lifted their target price on shares of Apple from $165.00 to $200.00 in a report on Sunday, April 2nd. Mizuho lifted their target price on shares of Apple from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Morgan Stanley lifted their target price on shares of Apple to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Finally, Maxim Group decreased their target price on shares of Apple from $173.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday, January 31st. Eight investment analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $157.06.
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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