Johny Srouji Sells 10,469 Shares of Apple Inc. (AAPL) Stock
Apple Inc. (NASDAQ:AAPL) SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total value of $1,698,071.80. Following the completion of the sale, the senior vice president now directly owns 76,250 shares in the company, valued at $12,367,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Johny Srouji also recently made the following trade(s):
- On Tuesday, May 30th, Johny Srouji sold 10,019 shares of Apple stock. The stock was sold at an average price of $153.96, for a total value of $1,542,525.24.
- On Monday, May 22nd, Johny Srouji sold 10,000 shares of Apple stock. The stock was sold at an average price of $153.20, for a total value of $1,532,000.00.
Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.23% during midday trading on Friday, reaching $157.50. The company had a trading volume of 27,418,047 shares. The firm’s 50 day moving average price is $151.60 and its 200-day moving average price is $145.37. Apple Inc. has a 12 month low of $102.53 and a 12 month high of $162.51. The company has a market capitalization of $813.52 billion, a P/E ratio of 17.88 and a beta of 1.31.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same period in the prior year, the business earned $1.42 earnings per share. Apple’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has initiated a share buyback program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given a dividend of $0.63 per share. The ex-dividend date was 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 28.64%.
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Institutional investors have recently made changes to their positions in the company. Saratoga Research & Investment Management raised its position in shares of Apple by 0.6% in the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after buying an additional 4,137 shares in the last quarter. Pinnacle Bank acquired a new position in shares of Apple during the first quarter valued at $1,924,000. Green Square Capital LLC raised its position in shares of Apple by 6.7% in the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock valued at $12,564,000 after buying an additional 5,491 shares in the last quarter. Headinvest LLC raised its position in shares of Apple by 2.5% in the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock valued at $2,347,000 after buying an additional 390 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Apple during the fourth quarter valued at $5,625,709,000. Institutional investors own 61.50% of the company’s stock.
AAPL has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price objective on Apple from $157.00 to $168.00 and gave the stock an “outperform” rating in a research report on Monday, May 22nd. Morgan Stanley lifted their price objective on Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Needham & Company LLC reiterated a “buy” rating and set a $175.00 price objective (up previously from $165.00) on shares of Apple in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Rosenblatt Securities set a $120.00 price objective on Apple and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $180.00 price objective (up previously from $175.00) on shares of Apple in a research report on Wednesday, August 2nd. Eleven 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $167.38.
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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