Insider Selling: Apple Inc. (NASDAQ:AAPL) Insider Sells 5,178 Shares of Stock

Apple Inc. (NASDAQ:AAPL) insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 transaction of $951,809.60.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $3.74 during trading hours on Tuesday, reaching $221.27. The stock had a trading volume of 44,105,164 shares, compared to its average volume of 63,440,129. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The business’s fifty day moving average is $216.27 and its two-hundred day moving average is $192.16. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. Apple’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.61 EPS for the current year.

Apple announced that its board has initiated a share buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s payout ratio is currently 15.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AAPL shares. Piper Sandler upped their price objective on Apple from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Raymond James lifted their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Bank of America reissued a “buy” rating and issued a $230.00 target price on shares of Apple in a research note on Tuesday, July 9th. Citigroup raised their price objective on Apple from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.29.

Hedge Funds Weigh In On Apple

Large investors have recently made changes to their positions in the stock. Financial Enhancement Group LLC boosted its position in shares of Apple by 6.2% during the fourth quarter. Financial Enhancement Group LLC now owns 48,180 shares of the iPhone maker’s stock valued at $8,801,000 after buying an additional 2,804 shares during the period. John W. Brooker & Co. CPAs raised its position in shares of Apple by 0.8% in the fourth quarter. John W. Brooker & Co. CPAs now owns 15,842 shares of the iPhone maker’s stock worth $3,050,000 after acquiring an additional 130 shares during the period. Hill Investment Group Partners LLC raised its position in shares of Apple by 12.9% during the 4th quarter. Hill Investment Group Partners LLC now owns 10,125 shares of the iPhone maker’s stock worth $1,949,000 after purchasing an additional 1,158 shares during the last quarter. Symphony Financial Ltd. Co. raised its holdings in Apple by 826.3% in the 4th quarter. Symphony Financial Ltd. Co. now owns 74,527 shares of the iPhone maker’s stock valued at $13,690,000 after acquiring an additional 66,481 shares during the last quarter. Finally, Fulcrum Equity Management purchased a new stake in shares of Apple in the 4th quarter valued at approximately $313,000. 60.41% of the stock is owned by institutional investors.

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.