Apple Inc. (NASDAQ:AAPL) CEO Sells $50,275,897.56 in Stock

by · The Cerbat Gem

Apple Inc. (NASDAQ:AAPL – Get Free Report) CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Apple Price Performance

NASDAQ AAPL opened at $226.80 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24. The company’s 50 day moving average is $222.90 and its two-hundred day moving average is $204.06.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the business posted $1.26 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Christopher J. Hasenberg Inc bought a new stake in shares of Apple in the 1st quarter valued at approximately $35,000. Fidelis Capital Partners LLC lifted its position in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple during the fourth quarter worth $39,000. Hershey Financial Advisers LLC bought a new position in Apple during the second quarter valued at $42,000. Finally, University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on AAPL shares. KeyCorp reaffirmed a “hold” rating and set a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. Maxim Group reaffirmed a “hold” rating and issued a $203.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $238.76.

View Our Latest Report on Apple

About Apple

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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.

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