Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Tuesday after an insider sold shares in the company. $417.46 million flowed into the stock on the tick-up and $598.20 million flowed out of the stock on the tick-down, for a money net flow of $180.74 million out of the stock. Of all stocks tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $0.47 for the day and closed at $145.53Specifically, SVP D Bruce Sewell sold 67,500 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $148.76, for a total value of $10,041,300.00. Following the completion of the sale, the senior vice president now directly owns 141,325 shares of the company’s stock, valued at approximately $21,023,507. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 373,000 shares of company stock valued at $56,497,046. 0.08% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on the company. Royal Bank Of Canada raised their target price on Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a report on Monday, May 22nd. Rosenblatt Securities set a $120.00 target price on Apple and gave the company a “hold” rating in a report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 target price (up from $164.00) on shares of Apple in a report on Friday, May 12th. Cowen and Company reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Apple in a research report on Thursday, May 25th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Thursday, June 1st. Twelve equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $161.67.
The stock’s 50 day moving average price is $146.92 and its 200-day moving average price is $141.83. The firm has a market capitalization of $779.47 billion, a P/E ratio of 17.54 and a beta of 1.31.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the consensus estimate of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The firm had revenue of $52.90 billion for the quarter, compared to analysts’ expectations of $52.61 billion. Equities research analysts expect that Apple Inc. will post $8.87 EPS for the current fiscal year.
Apple announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 2nd that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Large investors have recently modified their holdings of the company. Fairview Capital Investment Management LLC boosted its stake in shares of Apple by 2.7% in the fourth quarter. Fairview Capital Investment Management LLC now owns 13,481 shares of the iPhone maker’s stock worth $1,561,000 after buying an additional 350 shares during the last quarter. Adviser Investments LLC purchased a new stake in shares of Apple during the fourth quarter worth about $396,000. Greytown Advisors Inc. purchased a new stake in shares of Apple during the fourth quarter worth about $581,000. Stellar Capital Management LLC purchased a new stake in shares of Apple during the fourth quarter worth about $587,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock worth $1,096,072,000 after buying an additional 8,571,027 shares during the last quarter. 61.23% of the stock is currently owned by hedge funds and other institutional investors.
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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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