Traders sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Thursday. $434.34 million flowed into the stock on the tick-up and $625.84 million flowed out of the stock on the tick-down, for a money net flow of $191.50 million out of the stock. Of all stocks tracked, Apple had the highest net out-flow for the day. Apple traded up $1.00 for the day and closed at $157.41
A number of brokerages recently commented on AAPL. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of Apple in a research report on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $172.00 target price on shares of Apple in a research report on Tuesday, September 5th. Barclays PLC reaffirmed a “hold” rating and issued a $146.00 target price on shares of Apple in a research report on Monday, September 4th. Royal Bank Of Canada boosted their target price on Apple from $176.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, September 1st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Apple in a research report on Wednesday, September 6th. Seven research analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $190.72.
The stock has a market capitalization of $813.06 billion, a PE ratio of 17.87 and a beta of 1.27. The company has a 50-day moving average price of $156.72 and a 200-day moving average price of $152.43.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period last year, the business earned $1.42 earnings per share. Apple’s revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post $9.00 earnings per share for the current year.
In related news, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $157.58, for a total transaction of $5,515,300.00. Following the completion of the sale, the director now directly owns 1,168,283 shares in the company, valued at $184,098,035.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 541,177 shares of company stock valued at $85,864,804. 0.08% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AAPL. Janus Henderson Group PLC increased its position in Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after purchasing an additional 15,018,790 shares during the last quarter. Harbour Capital Advisors LLC increased its position in shares of Apple by 14,030.2% during the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after acquiring an additional 4,483,360 shares during the last quarter. Capital Research Global Investors increased its position in shares of Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after acquiring an additional 3,845,363 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Apple by 200.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock valued at $686,338,000 after acquiring an additional 3,178,809 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Apple by 25.3% during the second quarter. Principal Financial Group Inc. now owns 10,582,632 shares of the iPhone maker’s stock valued at $1,524,110,000 after acquiring an additional 2,138,928 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.
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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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