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.
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.
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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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