Apple Inc. (NASDAQ:AAPL) SVP Sells $13,802,497.80 in Stock

Apple Inc. (NASDAQ:AAPL) SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Apple Price Performance

AAPL traded down $1.11 during trading on Thursday, reaching $225.67. The stock had a trading volume of 33,924,167 shares, compared to its average volume of 61,400,199. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The business has a 50-day moving average of $222.72 and a 200-day moving average of $203.50. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The stock has a market cap of $3.46 trillion, a PE ratio of 35.10, a PEG ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.26 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is 15.55%.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently made changes to their positions in the business. Moody National Bank Trust Division lifted its stake in Apple by 7.5% in the third quarter. Moody National Bank Trust Division now owns 160,653 shares of the iPhone maker’s stock worth $37,432,000 after purchasing an additional 11,213 shares during the last quarter. Duncan Williams Asset Management LLC increased its holdings in shares of Apple by 187.4% in the third quarter. Duncan Williams Asset Management LLC now owns 33,363 shares of the iPhone maker’s stock worth $7,773,000 after buying an additional 21,755 shares during the period. Abacus Wealth Partners LLC increased its holdings in shares of Apple by 22.1% in the third quarter. Abacus Wealth Partners LLC now owns 46,161 shares of the iPhone maker’s stock worth $10,756,000 after buying an additional 8,352 shares during the period. CJM Wealth Advisers Ltd. lifted its stake in shares of Apple by 10.7% in the 3rd quarter. CJM Wealth Advisers Ltd. now owns 20,515 shares of the iPhone maker’s stock valued at $4,780,000 after acquiring an additional 1,989 shares during the last quarter. Finally, Apella Capital LLC boosted its holdings in Apple by 1.6% during the 3rd quarter. Apella Capital LLC now owns 79,072 shares of the iPhone maker’s stock valued at $17,932,000 after acquiring an additional 1,255 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AAPL shares. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Cfra increased their target price on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Wednesday. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Finally, Citigroup reissued a “buy” rating and issued a $255.00 target price on shares of Apple in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $238.76.

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.