Traders Sell Shares of Apple (AAPL) on Strength After Insider Selling

Investors sold shares of Apple (NASDAQ:AAPL) on strength during trading on Monday after an insider sold shares in the company. $904.16 million flowed into the stock on the tick-up and $1,195.00 million flowed out of the stock on the tick-down, for a money net flow of $290.84 million out of the stock. Of all companies tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $1.67 for the day and closed at $170.05Specifically, SVP Daniel J. Riccio sold 17,375 shares of the stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the transaction, the senior vice president now directly owns 66,191 shares in the company, valued at $11,194,221.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Philip W. Schiller sold 69,491 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total transaction of $11,564,692.22. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

AAPL has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating and set a $200.00 price objective on shares of Apple in a research note on Wednesday, December 13th. Rosenblatt Securities set a $180.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Tuesday, December 26th. Loop Capital reiterated a “buy” rating and set a $200.00 price objective on shares of Apple in a research note on Friday, December 22nd. BMO Capital Markets reiterated a “buy” rating and set a $199.00 price objective on shares of Apple in a research note on Wednesday, December 20th. Finally, Zacks Investment Research upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $202.52.

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The stock has a market cap of $854,362.38, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same quarter last year, the business earned $3.36 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. research analysts forecast that Apple will post 11.37 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. University of Texas Investment Managment Co. acquired a new position in Apple during the fourth quarter worth about $114,000. FNY Managed Accounts LLC boosted its position in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after acquiring an additional 716 shares during the last quarter. Private Vista LLC acquired a new position in Apple during the second quarter worth about $122,000. Santori & Peters Inc. acquired a new position in Apple during the fourth quarter worth about $149,000. Finally, Crow Point Partners LLC boosted its position in Apple by 100.0% during the third quarter. Crow Point Partners LLC now owns 1,000 shares of the iPhone maker’s stock worth $153,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 61.36% of the company’s stock.

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Apple Company Profile

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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