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

Investors bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Monday after an insider sold shares in the company. $1,022.06 million flowed into the stock on the tick-up and $820.67 million flowed out of the stock on the tick-down, for a money net flow of $201.39 million into the stock. Of all stocks tracked, Apple had the highest net in-flow for the day. Apple traded down ($0.29) for the day and closed at $157.21Specifically, SVP D Bruce Sewell sold 31,625 shares of Apple stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the completion of the sale, the senior vice president now owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Luca Maestri sold 4,757 shares of Apple stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the sale, the insider now directly owns 3,414 shares of the company’s stock, valued at approximately $528,145.80. The disclosure for this sale can be found here. Insiders have sold a total of 249,640 shares of company stock worth $38,953,894 over the last 90 days. 0.08% of the stock is owned by company insiders.

Several analysts recently commented on AAPL shares. Oppenheimer Holdings, Inc. reaffirmed a “” rating on shares of Apple in a report on Thursday, August 10th. Nomura set a $165.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Maxim Group lifted their target price on shares of Apple from $163.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Drexel Hamilton reaffirmed a “buy” rating and set a $185.00 target price on shares of Apple in a report on Tuesday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $165.00 target price on shares of Apple in a report on Tuesday, April 25th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company. Apple presently has an average rating of “Buy” and an average price target of $167.73.

The stock has a 50-day moving average price of $151.99 and a 200 day moving average price of $145.63. The stock has a market cap of $812.03 billion, a P/E ratio of 17.85 and a beta of 1.31.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Apple Inc. will post $9.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Thursday, August 10th. Apple’s payout ratio is currently 28.64%.

Apple announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

A number of large investors have recently modified their holdings of the company. Stone House Investment Management LLC increased its stake in shares of Apple by 0.4% in the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after buying an additional 6 shares in the last quarter. FC Advisory LLC increased its stake in shares of Apple by 0.4% in the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after buying an additional 10 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in shares of Apple by 0.3% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after buying an additional 17 shares in the last quarter. Stonehearth Capital Management LLC increased its stake in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock valued at $342,000 after buying an additional 20 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. increased its stake in shares of Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after buying an additional 20 shares in the last quarter. 61.50% of the stock is owned by institutional investors and hedge funds.

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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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