Apple Inc. (NASDAQ:AAPL) SVP Sells $23,305,747.92 in Stock

Apple Inc. (NASDAQ:AAPL) SVP Katherine L. Adams sold 123,448 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $188.79, for a total value of $23,305,747.92. Following the completion of the transaction, the senior vice president now owns 293,266 shares in the company, valued at approximately $55,365,688.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Apple Stock Performance

NASDAQ:AAPL traded up $1.76 on Monday, reaching $191.45. 46,510,579 shares of the company’s stock were exchanged, compared to its average volume of 60,414,195. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. The stock has a fifty day simple moving average of $177.15 and a 200-day simple moving average of $181.03. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. Apple’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. As a group, sell-side analysts predict that Apple Inc. will post 6.56 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 dividend on an annualized basis and a yield of 0.50%. Apple’s dividend payout ratio (DPR) is 15.69%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Atlantic Private Wealth LLC purchased a new stake in Apple in the first quarter valued at approximately $30,000. Cheyne Capital Management UK LLP raised its position in shares of Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after buying an additional 550 shares in the last quarter. West Tower Group LLC bought a new stake in shares of Apple during the 2nd quarter worth $64,000. HBC Financial Services PLLC grew its position in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. Finally, PayPay Securities Corp increased its stake in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating and issued a $240.00 target price on shares of Apple in a report on Friday, August 4th. Robert W. Baird lifted their price objective on shares of Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Canaccord Genuity Group boosted their target price on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Rosenblatt Securities dropped their price target on shares of Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Finally, KeyCorp reissued a “sector weight” rating on shares of Apple in a report on Monday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.25.

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.