Apple (NASDAQ:AAPL) Insider Chris Kondo Sells 3,752 Shares

Apple Inc. (NASDAQ:AAPL) insider Chris Kondo sold 3,752 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. This trade represents a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Apple Stock Down 0.7%

Shares of AAPL stock opened at $273.33 on Thursday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $277.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The business’s fifty day moving average is $254.61 and its 200-day moving average is $226.08. The stock has a market cap of $4.04 trillion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the prior year, the company earned $1.64 EPS. Apple’s revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 13.92%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AAPL. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a report on Monday, September 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Citigroup restated a “buy” rating and set a $315.00 price objective (up from $245.00) on shares of Apple in a research report on Friday, October 31st. Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $203.07 to $246.99 in a research report on Friday, October 31st. Finally, CLSA raised shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Hedge Funds Weigh In On Apple

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First National Bank of Hutchinson raised its holdings in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC grew its holdings in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

About Apple

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.