Investors Buy Apple (AAPL) on Weakness on Insider Selling

Investors bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Monday following insider selling activity. $1,416.29 million flowed into the stock on the tick-up and $981.36 million flowed out of the stock on the tick-down, for a money net flow of $434.93 million into the stock. Of all stocks tracked, Apple had the 2nd highest net in-flow for the day. Apple traded down ($1.25) for the day and closed at $169.80Specifically, insider Angela J. Ahrendts sold 63,388 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The disclosure for this sale can be found here. Insiders have sold 217,326 shares of company stock valued at $35,290,561 over the last quarter. Insiders own 0.08% of the company’s stock.

A number of research analysts recently issued reports on the stock. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price for the company in a research report on Friday, September 22nd. Rosenblatt Securities reaffirmed a “hold” rating and issued a $150.00 price objective on shares of Apple in a report on Sunday, October 15th. Citigroup reaffirmed a “buy” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. UBS set a $190.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Monday. Finally, Bank of America reissued a “buy” rating and set a $180.00 target price on shares of Apple in a research note on Tuesday, September 26th. Seven equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the stock. Apple has an average rating of “Buy” and a consensus target price of $200.27.

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The firm has a market capitalization of $871,810.00, a PE ratio of 18.59, a P/E/G ratio of 1.37 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 EPS. sell-side analysts expect that Apple Inc. will post 11.18 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were given 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 of this dividend was Friday, November 10th. Apple’s dividend payout ratio (DPR) is 27.42%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Sky Asset Management LLC acquired a new stake in Apple during the 2nd quarter worth $108,000. Hefty Wealth Partners boosted its stake in Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares during the period. FNY Managed Accounts LLC boosted its stake in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the period. American Beacon Advisors Inc. acquired a new stake in Apple during the 1st quarter worth $117,000. Finally, Private Vista LLC acquired a new stake in Apple during the 2nd quarter worth $122,000. 59.56% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Investors Buy Apple (AAPL) on Weakness on Insider Selling” was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://sportsperspectives.com/2017/12/04/investors-buy-apple-aapl-on-weakness-on-insider-selling.html.

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.

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply