Traders Sell Apple Inc. (AAPL) on Strength (AAPL)

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.

WARNING: “Traders Sell Apple Inc. (AAPL) on Strength (AAPL)” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/10/27/traders-sell-apple-inc-aapl-on-strength-aapl.html.

About Apple

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.

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply