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

Apple Inc. (NASDAQ:AAPL) SVP Katherine Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Apple Stock Performance

Shares of Apple stock opened at $258.02 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.83 trillion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09. The company has a 50 day moving average of $233.09 and a 200-day moving average of $214.69. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period last year, the firm posted $1.40 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on AAPL shares. Evercore ISI set a $290.00 price objective on Apple and gave the company an “outperform” rating in a research note on Friday, September 26th. DA Davidson reissued a “neutral” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 11th. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research note on Wednesday. Barclays upped their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Finally, Wedbush set a $310.00 price objective on shares of Apple and gave the company an “outperform” rating in a research note on Monday, September 22nd. Three investment 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 given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $247.49.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently modified their holdings of AAPL. Ryan Investment Management Inc. acquired a new position in shares of Apple in the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC increased 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 in the last quarter. Life Planning Partners Inc acquired a new position in Apple in the fourth quarter valued at approximately $47,000. Nexus Investment Management ULC boosted its holdings in shares of Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after buying an additional 200 shares in the last quarter. Finally, Elite Financial Inc. acquired a new stake in shares of Apple during the 1st quarter worth approximately $58,000. 67.73% of the stock is owned by institutional investors.

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.