Apple Inc. (NASDAQ:AAPL) Insider Sells $1,121,037.00 in Stock

Apple Inc. (NASDAQ:AAPL) insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, May 15th, Chris Kondo sold 4,999 shares of Apple stock. The stock was sold at an average price of $190.40, for a total value of $951,809.60.

Apple Trading Up 1.4 %

Shares of AAPL opened at $224.72 on Friday. The business’s 50-day moving average price is $217.93 and its 200 day moving average price is $192.79. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 34.95, a P/E/G ratio of 2.60 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. 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 released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that Apple Inc. will post 6.61 earnings per share for the current year.

Apple declared that its board has authorized a stock buyback plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

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

Hedge Funds Weigh In On Apple

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Enhancement Group LLC lifted its holdings in Apple by 6.2% in the 4th quarter. Financial Enhancement Group LLC now owns 48,180 shares of the iPhone maker’s stock worth $8,801,000 after purchasing an additional 2,804 shares during the last quarter. John W. Brooker & Co. CPAs lifted its holdings in shares of Apple by 0.8% during the fourth quarter. John W. Brooker & Co. CPAs now owns 15,842 shares of the iPhone maker’s stock worth $3,050,000 after buying an additional 130 shares during the last quarter. Hill Investment Group Partners LLC lifted its holdings in shares of Apple by 12.9% during the fourth quarter. Hill Investment Group Partners LLC now owns 10,125 shares of the iPhone maker’s stock worth $1,949,000 after buying an additional 1,158 shares during the last quarter. Symphony Financial Ltd. Co. lifted its holdings in shares of Apple by 826.3% during the fourth quarter. Symphony Financial Ltd. Co. now owns 74,527 shares of the iPhone maker’s stock worth $13,690,000 after buying an additional 66,481 shares during the last quarter. Finally, Fulcrum Equity Management acquired a new position in shares of Apple during the fourth quarter worth approximately $313,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Tuesday, August 6th. Maxim Group raised their price target on Apple from $195.00 to $203.00 and gave the company a “hold” rating in a report on Friday, August 2nd. UBS Group restated a “neutral” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, July 1st. Melius Research lifted their price objective on shares of Apple from $227.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Apple from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.29.

Apple Company Profile

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.