Investors Buy Apple Inc. (AAPL) on Weakness on Insider Selling

Investors purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Monday after an insider sold shares in the company. $2,591.07 million flowed into the stock on the tick-up and $2,138.87 million flowed out of the stock on the tick-down, for a money net flow of $452.20 million into the stock. Of all stocks tracked, Apple had the highest net in-flow for the day. Apple traded down ($3.56) for the day and closed at $145.42Specifically, insider Luca Maestri sold 6,308 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total transaction of $894,663.64. Following the completion of the transaction, the insider now directly owns 2,665 shares of the company’s stock, valued at approximately $377,976.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total value of $1,855,918.68. Following the sale, the insider now directly owns 13,049 shares of the company’s stock, valued at $2,026,770.68. The disclosure for this sale can be found here. Insiders have sold a total of 447,411 shares of company stock valued at $67,200,745 over the last three months. 0.08% of the stock is currently owned by insiders.

Several research firms have recently weighed in on AAPL. Argus reissued an “outperform” rating and issued a $160.00 target price on shares of Apple in a report on Monday, May 15th. Hilliard Lyons boosted their target price on Apple from $147.00 to $170.00 and gave the company a “buy” rating in a report on Monday, May 15th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price (up from $165.00) on shares of Apple in a report on Tuesday, May 16th. BMO Capital Markets reissued an “outperform” rating and issued a $170.00 target price (up from $160.00) on shares of Apple in a report on Wednesday, May 17th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $177.00 target price (up from $161.00) on shares of Apple in a report on Wednesday, May 17th. Ten investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and two have given a strong buy rating to the stock. Apple has a consensus rating of “Buy” and an average price target of $160.83.

The firm’s 50-day moving average is $151.22 and its 200 day moving average is $135.17. The firm has a market cap of $762.99 billion, a price-to-earnings ratio of 17.17 and a beta of 1.28.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. The business had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. Equities research analysts predict that Apple Inc. will post $8.94 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Mcmillion Capital Management Inc. raised its stake in shares of Apple by 1.0% in the third quarter. Mcmillion Capital Management Inc. now owns 53,484 shares of the iPhone maker’s stock worth $6,046,000 after buying an additional 543 shares during the period. RGT Capital Management Ltd. acquired a new stake in shares of Apple during the third quarter worth approximately $1,631,000. Barnett & Company Inc. raised its stake in shares of Apple by 38.3% in the third quarter. Barnett & Company Inc. now owns 2,093 shares of the iPhone maker’s stock worth $237,000 after buying an additional 580 shares during the period. TrueNorth Inc. purchased a new stake in Apple during the third quarter valued at about $2,105,000. Finally, Charter Research & Investment Group Inc. raised its stake in Apple by 1.7% in the third quarter. Charter Research & Investment Group Inc. now owns 32,667 shares of the iPhone maker’s stock valued at $3,693,000 after buying an additional 555 shares during the last quarter. Institutional investors and hedge funds own 61.26% 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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