Investors Sell Apple (AAPL) on Strength (AAPL)

Investors sold shares of Apple (NASDAQ:AAPL) on strength during trading hours on Wednesday. $662.31 million flowed into the stock on the tick-up and $929.33 million flowed out of the stock on the tick-down, for a money net flow of $267.02 million out of the stock. Of all companies tracked, Apple had the highest net out-flow for the day. Apple traded up $1.74 for the day and closed at $188.18

Several equities research analysts have recently issued reports on AAPL shares. Bank of America downgraded shares of Apple from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $180.00 to $220.00 in a research note on Wednesday, January 17th. Cascend Securities raised their price objective on shares of Apple from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Morgan Stanley restated a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Apple in a research note on Tuesday, January 23rd. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of Apple in a research note on Friday, January 19th. Finally, Monness Crespi & Hardt started coverage on shares of Apple in a research note on Wednesday, April 11th. They issued a “buy” rating and a $235.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $204.00.

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The firm has a market capitalization of $954.68 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 1.37.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.04. The company had revenue of $61.14 billion during the quarter, compared to analyst estimates of $60.94 billion. Apple had a return on equity of 39.97% and a net margin of 21.55%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.10 EPS. equities analysts anticipate that Apple will post 11.43 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 17th. Stockholders of record on Monday, May 14th will be given a dividend of $0.73 per share. This is a positive change from Apple’s previous quarterly dividend of $0.63. This represents a $2.92 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, May 11th. Apple’s payout ratio is presently 31.70%.

Apple declared that its board has initiated a stock buyback program on Tuesday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

In other news, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $185.99, for a total transaction of $6,509,650.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $217,288,955.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela J. Ahrendts sold 38,228 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $176.54, for a total value of $6,748,771.12. Following the transaction, the insider now owns 90,967 shares of the company’s stock, valued at $16,059,314.18. The disclosure for this sale can be found here. Insiders have sold a total of 214,869 shares of company stock valued at $37,493,244 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in shares of Apple by 77.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 33,150 shares of the iPhone maker’s stock valued at $5,110,000 after purchasing an additional 14,476 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Apple in the 3rd quarter valued at approximately $80,193,000. Vicus Capital grew its position in shares of Apple by 1.1% in the 3rd quarter. Vicus Capital now owns 37,892 shares of the iPhone maker’s stock valued at $5,840,000 after purchasing an additional 419 shares during the period. Traynor Capital Management Inc. grew its position in shares of Apple by 4.0% in the 3rd quarter. Traynor Capital Management Inc. now owns 122,505 shares of the iPhone maker’s stock valued at $18,780,000 after purchasing an additional 4,692 shares during the period. Finally, Northstar Wealth Partners LLC grew its position in shares of Apple by 17.1% in the 3rd quarter. Northstar Wealth Partners LLC now owns 19,055 shares of the iPhone maker’s stock valued at $2,969,000 after purchasing an additional 2,777 shares during the period. Institutional investors own 60.93% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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