Investors Buy Shares of Apple Inc. (AAPL) on Weakness Following Insider Selling

Investors purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Friday after an insider sold shares in the company. $816.62 million flowed into the stock on the tick-up and $773.12 million flowed out of the stock on the tick-down, for a money net flow of $43.50 million into the stock. Of all equities tracked, Apple had the 22nd highest net in-flow for the day. Apple traded down ($0.95) for the day and closed at $170.15Specifically, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the completion of the sale, the insider now directly owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold a total of 410,352 shares of company stock worth $65,356,512 in the last three months. Insiders own 0.08% of the company’s stock.

AAPL has been the subject of a number of research reports. Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price for the company in a report on Friday, September 22nd. Rosenblatt Securities restated a “hold” rating and issued a $150.00 price target on shares of Apple in a research report on Sunday, October 15th. Citigroup Inc. restated a “buy” rating and issued a $200.00 price target (up previously from $170.00) on shares of Apple in a research report on Friday, November 3rd. They noted that the move was a valuation call. Bank of America Corporation restated a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Tuesday, September 26th. Finally, Pacific Crest upgraded Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 price target on the stock in a research report on Monday, October 16th. Seven research analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $200.24.

The company has a market cap of $878,480.00, a PE ratio of 18.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. equities research analysts expect that Apple Inc. will post 11.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, November 10th. Apple’s payout ratio is 27.42%.

Several institutional investors have recently modified their holdings of AAPL. Janus Henderson Group PLC lifted its stake in shares of Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after buying an additional 15,018,790 shares during the last quarter. Harbour Capital Advisors LLC lifted its stake in shares of Apple by 14,030.2% in the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock worth $31,352,000 after buying an additional 4,483,360 shares during the last quarter. Truepoint Inc. lifted its stake in shares of Apple by 15,559.4% in the third quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock worth $4,437,000 after buying an additional 4,408,441 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after buying an additional 3,845,363 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Apple by 9,166.4% during the third quarter. Stifel Financial Corp now owns 3,883,754 shares of the iPhone maker’s stock worth $598,497,000 after acquiring an additional 3,841,842 shares during the period. Institutional investors and hedge funds own 60.38% of the company’s stock.

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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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