Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Thursday following insider selling activity. $504.49 million flowed into the stock on the tick-up and $687.75 million flowed out of the stock on the tick-down, for a money net flow of $183.26 million out of the stock. Of all equities tracked, Apple had the highest net out-flow for the day. Apple traded up $0.84 for the day and closed at $113.89Specifically, CEO Timothy D. Cook sold 334,000 shares of Apple stock in a transaction on Friday, August 26th. The stock was sold at an average price of $107.23, for a total value of $35,814,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 110,000 shares of Apple stock in a transaction on Monday, August 29th. The shares were sold at an average price of $106.84, for a total value of $11,752,400.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
Several equities analysts have weighed in on AAPL shares. Drexel Hamilton reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Apple in a report on Wednesday, September 14th. Piper Jaffray Cos. raised Apple to an “overweight” rating and set a $151.00 price target for the company in a report on Friday, September 16th. Canaccord Genuity reissued a “buy” rating and set a $140.00 price target (up previously from $120.00) on shares of Apple in a report on Monday, September 12th. Nomura boosted their price target on Apple from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 22nd. Finally, Mizuho reissued a “buy” rating and set a $120.00 price target on shares of Apple in a report on Thursday, September 1st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, forty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $126.13.
The firm has a market cap of $613.69 billion, a PE ratio of 13.28 and a beta of 1.22. The firm has a 50-day moving average price of $110.09 and a 200-day moving average price of $103.11.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The company earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. Apple’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. Equities research analysts anticipate that Apple Inc. will post $8.26 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. VNBTrust National Association increased its position in shares of Apple by 10.5% in the third quarter. VNBTrust National Association now owns 7,853 shares of the iPhone maker’s stock worth $887,000 after buying an additional 746 shares during the last quarter. Peachtree Investment Advisors Inc. increased its position in shares of Apple by 10.3% in the third quarter. Peachtree Investment Advisors Inc. now owns 38,072 shares of the iPhone maker’s stock worth $4,304,000 after buying an additional 3,570 shares during the last quarter. Liberty Capital Management Inc. purchased a new position in shares of Apple during the third quarter worth approximately $3,724,000. Baystate Wealth Management LLC increased its position in shares of Apple by 11.2% in the third quarter. Baystate Wealth Management LLC now owns 7,500 shares of the iPhone maker’s stock worth $848,000 after buying an additional 757 shares during the last quarter. Finally, Monarch Capital Management Inc. increased its position in shares of Apple by 267.9% in the third quarter. Monarch Capital Management Inc. now owns 15,271 shares of the iPhone maker’s stock worth $1,726,000 after buying an additional 11,120 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.
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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