Apple Inc. (NASDAQ:AAPL) Insider Sells $1,958,850.00 in Stock

Apple Inc. (NASDAQ:AAPL) insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Chris Kondo also recently made the following trade(s):

• On Friday, August 9th, Chris Kondo sold 5,178 shares of Apple stock. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00.

Apple Price Performance

Shares of AAPL stock opened at $226.40 on Thursday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The firm’s 50 day moving average is $219.82 and its 200-day moving average is $193.92. The firm has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.60 and a beta of 1.24. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple declared that its Board of Directors has approved a stock buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Gilfoyle & Co LLC lifted its stake in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. Palumbo Wealth Management LLC raised its position in shares of Apple by 0.6% in the fourth quarter. Palumbo Wealth Management LLC now owns 44,540 shares of the iPhone maker’s stock valued at $8,575,000 after purchasing an additional 247 shares during the period. Weaver Consulting Group raised its position in shares of Apple by 2.3% in the fourth quarter. Weaver Consulting Group now owns 39,715 shares of the iPhone maker’s stock valued at $7,646,000 after purchasing an additional 888 shares during the period. Spinnaker Investment Group LLC raised its position in shares of Apple by 0.8% in the fourth quarter. Spinnaker Investment Group LLC now owns 53,137 shares of the iPhone maker’s stock valued at $10,231,000 after purchasing an additional 445 shares during the period. Finally, Veracity Capital LLC raised its position in shares of Apple by 1.1% in the fourth quarter. Veracity Capital LLC now owns 37,607 shares of the iPhone maker’s stock valued at $7,240,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AAPL shares. Monness Crespi & Hardt boosted their price objective on shares of Apple from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Rosenblatt Securities lifted their target price on shares of Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Moffett Nathanson assumed coverage on shares of Apple in a research report on Monday. They set a “neutral” rating and a $211.00 target price on the stock. Bank of America reiterated a “buy” rating and set a $230.00 target price on shares of Apple in a research report on Tuesday, July 9th. Finally, Canaccord Genuity Group lifted their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $233.63.

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.