Apple Inc. (AAPL) Insider Chris Kondo Sells 6,209 Shares
Apple Inc. (NASDAQ:AAPL) insider Chris Kondo sold 6,209 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $161.96, for a total transaction of $1,005,609.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Apple Inc. (NASDAQ AAPL) traded down 1.92% during mid-day trading on Thursday, reaching $157.86. The company’s stock had a trading volume of 27,917,442 shares. The company has a market cap of $815.38 billion, a price-to-earnings ratio of 17.92 and a beta of 1.31. The firm has a 50 day moving average price of $151.25 and a 200 day moving average price of $145.28. Apple Inc. has a 52-week low of $102.53 and a 52-week high of $162.51.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the previous year, the business earned $1.42 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current year.
Apple declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.60%. Apple’s payout ratio is presently 28.64%.
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Several institutional investors have recently made changes to their positions in the company. Blue Sky Asset Management LLC acquired a new position in shares of Apple during the second quarter worth $108,000. Hefty Wealth Partners increased 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 last quarter. FNY Managed Accounts LLC increased its position in Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in Apple during the first quarter valued at approximately $117,000. Finally, Private Vista LLC purchased a new position in Apple during the second quarter valued at approximately $122,000. Hedge funds and other institutional investors own 61.50% of the company’s stock.
Several analysts have issued reports on AAPL shares. Drexel Hamilton reaffirmed a “buy” rating and issued a $202.00 price objective on shares of Apple in a research report on Thursday, July 6th. Instinet reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Apple in a research report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Apple in a research report on Tuesday, June 6th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Apple in a research report on Tuesday, July 25th. Finally, Macquarie increased their price objective on shares of Apple from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Twelve analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $167.33.
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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