Insider Selling: Apple Inc. (NASDAQ:AAPL) SVP Sells 61,019 Shares of Stock

Apple Inc. (NASDAQ:AAPL) SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Apple Stock Down 0.5 %

Shares of AAPL traded down $1.11 during trading hours on Thursday, hitting $225.67. The stock had a trading volume of 33,924,167 shares, compared to its average volume of 61,400,199. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The firm has a market capitalization of $3.46 trillion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The firm has a 50 day simple moving average of $222.72 and a 200-day simple moving average of $203.50. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the firm posted $1.26 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.55%.

Analyst Ratings Changes

A number of analysts have weighed in on AAPL shares. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Citigroup reissued a “buy” rating and set a $255.00 price objective on shares of Apple in a report on Wednesday. UBS Group upped their target price on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Maxim Group reiterated a “hold” rating and issued a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Piper Sandler Companies restated a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $238.76.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Yeomans Consulting Group Inc. purchased a new stake in Apple in the 4th quarter valued at $1,713,000. Raleigh Capital Management Inc. raised its holdings in shares of Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA bought a new position in shares of Apple during the fourth quarter valued at about $38,406,000. Barden Capital Management Inc. boosted its holdings in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC bought a new stake in Apple in the 4th quarter worth about $4,782,000. 60.41% of the stock is owned by institutional investors.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.