Traders Buy Apple (AAPL) on Weakness Following Insider Selling

Traders purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Wednesday after an insider sold shares in the company. $833.63 million flowed into the stock on the tick-up and $673.18 million flowed out of the stock on the tick-down, for a money net flow of $160.45 million into the stock. Of all stocks tracked, Apple had the 5th highest net in-flow for the day. Apple traded down ($0.04) for the day and closed at $174.29Specifically, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the sale, the insider now owns 39,682 shares in the company, valued at $6,839,192.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,412 shares of company stock worth $22,115,155. Corporate insiders own 0.06% of the company’s stock.

Several analysts have issued reports on the company. Vetr upgraded Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price on the stock in a research note on Friday, September 22nd. Rosenblatt Securities reiterated a “hold” rating and issued a $150.00 price target on shares of Apple in a research report on Sunday, October 15th. Citigroup reiterated a “buy” rating and issued a $200.00 price target (up from $170.00) on shares of Apple in a research report on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 price target on Apple and gave the company a “buy” rating in a research report on Monday, December 4th. Finally, Bank of America reiterated a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus price target of $198.70.

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market capitalization of $894,860.00, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 EPS. equities analysts anticipate that Apple Inc. will post 11.18 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. Berkshire Hathaway Inc. grew its stake in shares of Apple by 0.6% in the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after buying an additional 834,854 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after buying an additional 3,845,363 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Apple by 1.1% in the 3rd quarter. Legal & General Group Plc now owns 26,393,202 shares of the iPhone maker’s stock worth $4,067,559,000 after buying an additional 287,027 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Apple by 9.3% in the 3rd quarter. Janus Henderson Group PLC now owns 21,854,159 shares of the iPhone maker’s stock worth $3,367,571,000 after buying an additional 1,850,572 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Apple by 0.4% in the 3rd quarter. Swiss National Bank now owns 19,248,516 shares of the iPhone maker’s stock worth $2,966,581,000 after buying an additional 79,100 shares during the last quarter. 60.17% of the stock is owned by institutional investors and hedge funds.

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About Apple

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.

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