Investors Sell Apple Inc. (AAPL) on Strength (AAPL)

Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading on Tuesday. $971.86 million flowed into the stock on the tick-up and $1,090.12 million flowed out of the stock on the tick-down, for a money net flow of $118.26 million out of the stock. Of all stocks tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $1.75 for the day and closed at $161.60

Several brokerages have recently commented on AAPL. BidaskClub raised shares of Apple from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays PLC reaffirmed a “hold” rating and set a $146.00 target price on shares of Apple in a report on Tuesday. Vetr cut shares of Apple from a “buy” rating to a “hold” rating and set a $164.97 target price on the stock. in a report on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $175.00 target price on shares of Apple in a report on Monday. Finally, Longbow Research reaffirmed a “buy” rating and set a $173.00 target price on shares of Apple in a report on Friday, August 11th. Twelve analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $167.33.

The company has a 50 day moving average price of $151.25 and a 200 day moving average price of $145.28. The company has a market capitalization of $831.34 billion, a PE ratio of 18.27 and a beta of 1.31.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.42 EPS. Equities research analysts anticipate that Apple Inc. will post $9.02 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, August 10th. Apple’s payout ratio is currently 28.64%.

Apple declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In related news, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $184,098,035.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eduardo H. Cue sold 45,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $153.78, for a total transaction of $6,920,100.00. The disclosure for this sale can be found here. Insiders sold a total of 287,962 shares of company stock valued at $44,702,313 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. 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 during the last quarter. Pinnacle Bank bought a new position in shares of Apple during the first quarter valued at approximately $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 during 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 during the last quarter. Finally, Norges Bank bought a new position in shares of Apple during the fourth quarter valued at approximately $5,625,709,000. 61.50% of the stock is owned by hedge funds and other institutional investors.

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About Apple

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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