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.
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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