Apple Inc. (NASDAQ:AAPL) Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the completion of the sale, the director now owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Apple Inc. (NASDAQ AAPL) opened at 157.48 on Friday. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $161.83. The company has a market capitalization of $813.42 billion, a PE ratio of 17.88 and a beta of 1.31. The firm’s 50-day moving average price is $149.92 and its 200 day moving average price is $144.27.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.42 EPS. Equities analysts predict that Apple Inc. will post $9.02 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.60%. Apple’s dividend payout ratio is currently 28.64%.
Apple announced that its Board of Directors has initiated a share buyback program on Tuesday, May 2nd that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods set a $170.00 price objective on Apple and gave the company a “buy” rating in a report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 price objective on shares of Apple in a report on Wednesday, June 21st. Nomura restated a “buy” rating and set a $165.00 price objective on shares of Apple in a report on Wednesday, July 5th. Barclays PLC set a $123.00 price objective on Apple and gave the company a “neutral” rating in a report on Wednesday, May 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $177.00 price objective (up previously from $161.00) on shares of Apple in a report on Wednesday, May 17th. Twelve research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $167.35.
Several hedge funds have recently made changes to their positions in AAPL. Blue Sky Asset Management LLC purchased a new stake in shares of Apple during the second quarter worth about $108,000. Hefty Wealth Partners increased its stake in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares in the last quarter. FNY Managed Accounts LLC increased its stake in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of Apple during the first quarter worth about $117,000. Finally, Private Vista LLC purchased a new stake in shares of Apple during the second quarter worth about $122,000. Institutional investors and hedge funds own 61.13% of the company’s stock.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
The article first appeared in com-unik.info