Traders Buy Apple (AAPL) on Weakness After Insider Selling

Traders bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Monday following insider selling activity. $1,416.29 million flowed into the stock on the tick-up and $981.36 million flowed out of the stock on the tick-down, for a money net flow of $434.93 million into the stock. Of all stocks tracked, Apple had the 2nd highest net in-flow for the day. Apple traded down ($1.25) for the day and closed at $169.80Specifically, insider Philip W. Schiller sold 56,808 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total value of $8,788,197.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Johny Srouji sold 5,760 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the completion of the sale, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The disclosure for this sale can be found here. Insiders sold 217,326 shares of company stock valued at $35,290,561 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Several analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $160.08 price objective (down previously from $176.00) on shares of Apple in a research report on Wednesday, August 9th. Longbow Research reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Apple in a research report on Friday, August 11th. Vetr downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $178.34 price objective for the company. in a research report on Friday. Bank of America reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Apple in a research report on Tuesday, September 26th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Apple in a research report on Thursday, September 21st. Seven equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. Apple has a consensus rating of “Buy” and an average price target of $200.27.

The firm has a market cap of $871,810.00, a P/E ratio of 18.59, a PEG ratio of 1.37 and a beta of 1.24. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the business posted $1.50 earnings per share. research analysts expect that Apple Inc. will post 11.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s payout ratio is 27.42%.

A number of hedge funds have recently bought and sold shares of AAPL. Green Square Capital LLC raised its stake in shares of Apple by 6.7% during the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock valued at $12,564,000 after purchasing an additional 5,491 shares in the last quarter. YHB Investment Advisors Inc. raised its stake in shares of Apple by 7.6% during the second quarter. YHB Investment Advisors Inc. now owns 136,189 shares of the iPhone maker’s stock valued at $19,614,000 after purchasing an additional 9,663 shares in the last quarter. Lederer & Associates Investment Counsel CA raised its stake in shares of Apple by 2.1% during the second quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock valued at $5,377,000 after purchasing an additional 779 shares in the last quarter. Carnick & Kubik Group LLC raised its stake in shares of Apple by 14.4% during the second quarter. Carnick & Kubik Group LLC now owns 20,744 shares of the iPhone maker’s stock valued at $2,987,000 after purchasing an additional 2,612 shares in the last quarter. Finally, GenTrust LLC raised its stake in shares of Apple by 1,022.9% during the second quarter. GenTrust LLC now owns 34,315 shares of the iPhone maker’s stock valued at $4,942,000 after purchasing an additional 31,259 shares in the last quarter. Institutional investors own 59.56% of the company’s stock.

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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.

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