Apple (NASDAQ:AAPL) SVP Katherine Adams Sells 47,125 Shares

Key Points

• Katherine Adams, Senior Vice President of Apple, sold 47,125 shares of the company at an average price of $256.79, resulting in a total transaction value of approximately $12.1 million.
• Following the sale, Adams retained 179,158 shares in Apple, which are valued at around $46 million, marking a 20.83% decrease in her position.
• Apple's stock price rose 0.3% to $258.02, and the company reported $94.04 billion in revenue for the last quarter, exceeding analyst expectations.

Apple Inc. (NASDAQ:AAPL - Get Free Report) SVP Katherine Adams sold 47,125 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company's stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Apple Stock Up 0.3%

AAPL stock traded up $0.89 during mid-day trading on Friday, reaching $258.02. The company had a trading volume of 49,101,729 shares, compared to its average volume of 59,941,396. The company has a market capitalization of $3.83 trillion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.49 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a 50 day simple moving average of $232.20 and a two-hundred day simple moving average of $214.38.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Institutional Investors Weigh In On Apple

A number of hedge funds have recently added to or reduced their stakes in the business. First National Bank of Hutchinson grew its stake in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC grew its stake in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC grew its stake in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC grew its stake in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE grew its stake in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after acquiring an additional 1,155 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. Citigroup reissued a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Jefferies Financial Group reiterated an "underperform" rating and issued a $205.16 target price (down from $205.82) on shares of Apple in a research report on Friday. Bank of America increased their target price on Apple from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Monness Crespi & Hardt increased their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein started coverage on Apple in a research report on Monday, September 15th. They issued an "outperform" rating and a $290.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $247.49.

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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