Apple Inc. (NASDAQ:AAPL) SVP Deirdre O'brien Sells 34,821 Shares

Key Points

• Apple Inc. SVP Deirdre O'brien sold 34,821 shares at an average price of $223.20, resulting in a total transaction value of $7.77 million and a 20.30% decrease in her holdings.
• The company recently announced a quarterly dividend of $0.26 per share, which will yield an annualized dividend of 0.5%, with the ex-dividend date set for August 11th.
• Apple exceeded analysts' expectations for earnings with a reported $1.57 EPS for the last quarter, generating $94.04 billion in revenue, up 9.6% year-over-year.

Apple Inc. (NASDAQ:AAPL - Get Free Report) SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Apple Trading Up 1.1%

AAPL stock traded up $2.47 during midday trading on Tuesday, hitting $229.65. The company had a trading volume of 55,616,286 shares, compared to its average volume of 61,571,968. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock's 50 day moving average price is $207.35 and its 200 day moving average price is $213.10. The stock has a market cap of $3.41 trillion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.38 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. China Renaissance assumed coverage on Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. UBS Group raised their target price on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Monness Crespi & Hardt raised their target price on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Evercore ISI lifted their price target on Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $237.60.

Hedge Funds Weigh In On Apple

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ryan Investment Management Inc. purchased a new stake in Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the period. Life Planning Partners Inc purchased a new stake in Apple in the fourth quarter worth $47,000. Nexus Investment Management ULC grew its stake in Apple by 333.3% in the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker's stock worth $53,000 after purchasing an additional 200 shares during the period. Finally, Elite Financial Inc. purchased a new stake in Apple in the first quarter worth $58,000. Institutional investors own 67.73% of the company's stock.

Apple Company Profile

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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