Apple (NASDAQ:AAPL) SVP Sells $12,101,228.75 in Stock

Apple Inc. (NASDAQ:AAPL) SVP Katherine Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Apple Trading Up 0.3%

Shares of Apple stock opened at $258.02 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market capitalization of $3.83 trillion, a PE ratio of 39.15, a P/E/G ratio of 2.51 and a beta of 1.09. The firm’s 50-day moving average price is $233.09 and its 200 day moving average price is $214.69.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Hedge Funds Weigh In On Apple

Institutional investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its holdings in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares in the last quarter. Norges Bank acquired a new stake in shares of Apple in the second quarter valued at $38,942,255,000. Nuveen LLC purchased a new position in Apple in the first quarter valued at $17,472,482,000. GAMMA Investing LLC boosted its holdings in Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the period. Finally, PKS Advisory Services LLC grew its stake in Apple by 98,917.0% during the 2nd quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker’s stock worth $12,106,000 after purchasing an additional 57,898,088 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AAPL. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Rosenblatt Securities boosted their price target on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Tigress Financial increased their price objective on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Thursday, September 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a research report on Saturday, September 27th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $247.49.

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.