Insider Selling: Apple (NASDAQ:AAPL) CEO Sells 129,963 Shares of Stock

Key Points

• Apple CEO Timothy Cook sold 129,963 shares of Apple stock on October 2nd for a total of approximately $33.38 million, which decreased his ownership by 3.81% to 3,280,295 shares.
• The company's latest quarterly earnings showed an EPS of $1.57, exceeding analysts' expectations of $1.43, with revenue of $94.04 billion.
• Apple declared a quarterly dividend of $0.26 per share, resulting in a 0.4% yield and a dividend payout ratio of 15.78%.

Apple Inc. (NASDAQ:AAPL - Get Free Report) CEO Timothy Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Apple Trading Up 0.3%

Apple stock traded up $0.89 during midday trading on Friday, reaching $258.02. The stock had a trading volume of 49,101,729 shares, compared to its average volume of 59,941,396. The firm has a market cap 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 firm's fifty day simple moving average is $232.20 and its two-hundred day simple moving average is $214.38. 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 twelve month low of $169.21 and a twelve month high of $260.10.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AAPL shares. Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, September 17th. Seaport Res Ptn upgraded Apple to a "strong-buy" rating in a research report on Wednesday. Loop Capital decreased their price objective on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. Sanford C. Bernstein began coverage on shares of Apple in a research note on Monday, September 15th. They issued an "outperform" rating and a $290.00 price target for the company. Finally, DA Davidson reiterated a "neutral" rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 11th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $247.49.

Hedge Funds Weigh In On Apple

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ryan Investment Management Inc. acquired a new stake in Apple during the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC grew its holdings 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 acquired a new stake in Apple in the fourth quarter worth $47,000. Nexus Investment Management ULC grew its holdings 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. acquired a new stake in shares of Apple in the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 67.73% of the company's stock.

About Apple

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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