Apple (NASDAQ:AAPL) Trading Down 3.6% on Insider Selling

Apple Inc. (NASDAQ:AAPL)’s share price was down 3.6% during trading on Friday after an insider sold shares in the company. The stock traded as low as $191.06 and last traded at $195.82. Approximately 40,732,095 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 54,992,380 shares. The stock had previously closed at $203.19.

Specifically, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at $40,072,269.86. The trade was a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Redburn Partners set a $230.00 target price on Apple in a research report on Friday, January 31st. Sanford C. Bernstein upped their target price on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Argus raised Apple to a “strong-buy” rating in a research report on Friday, January 31st. Bank of America reduced their price objective on shares of Apple from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $245.26.

Apple Stock Performance

The stock’s 50 day moving average price is $230.14 and its two-hundred day moving average price is $233.15. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Hedge Funds Weigh In On Apple

Hedge funds and other institutional investors have recently bought and sold shares of the company. O Connor Financial Group LLC boosted its position in shares of Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after buying an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after acquiring an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC raised its position in Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after acquiring an additional 46 shares during the last quarter. Advanced Portfolio Management LLC lifted its holdings in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after purchasing an additional 47 shares in the last quarter. Finally, Menard Financial Group LLC grew its position in shares of Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after purchasing an additional 48 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.