Apple Inc. (NASDAQ:AAPL – Get Free Report) SVP Jennifer Newstead sold 2,399 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $325.75, for a total transaction of $781,474.25. Following the sale, the senior vice president directly owned 29,997 shares of the company’s stock, valued at approximately $9,771,522.75. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Jennifer Newstead also recently made the following trade(s):
- On Tuesday, October 27th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $343.36, for a total value of $823,720.64.
- On Tuesday, October 20th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $339.62, for a total value of $814,748.38.
- On Tuesday, October 13th, Jennifer Newstead sold 2,399 shares of Apple stock. The stock was sold at an average price of $345.00, for a total transaction of $827,655.00.
- On Tuesday, October 6th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99.
- On Tuesday, September 29th, Jennifer Newstead sold 2,399 shares of Apple stock. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82.
- On Tuesday, September 22nd, Jennifer Newstead sold 2,399 shares of Apple stock. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94.
- On Tuesday, September 15th, Jennifer Newstead sold 1,438 shares of Apple stock. The shares were sold at an average price of $330.19, for a total transaction of $474,813.22.
- On Tuesday, September 8th, Jennifer Newstead sold 1,438 shares of Apple stock. The stock was sold at an average price of $317.23, for a total value of $456,176.74.
- On Tuesday, September 1st, Jennifer Newstead sold 1,439 shares of Apple stock. The stock was sold at an average price of $317.01, for a total value of $456,177.39.
- On Tuesday, August 25th, Jennifer Newstead sold 1,439 shares of Apple stock. The shares were sold at an average price of $310.95, for a total value of $447,457.05.
Apple Price Performance
Shares of Apple stock opened at $342.37 on Friday. The stock’s 50-day simple moving average is $336.01 and its 200-day simple moving average is $298.50. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $355.38. The company has a market capitalization of $4.98 trillion, a price-to-earnings ratio of 38.17, a PEG ratio of 3.21 and a beta of 1.07. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. Apple had a return on equity of 125.35% and a net margin of 27.60%. The firm had revenue of $114.48 billion during the quarter, compared to analyst estimates of $113.40 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 9.68 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple’s dividend payout ratio is presently 12.04%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on AAPL shares. KeyCorp reiterated an “underweight” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, November 3rd. DA Davidson raised their target price on shares of Apple from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Seaport Research Partners downgraded shares of Apple from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. JPMorgan Chase & Co. decreased their price target on shares of Apple from $360.00 to $355.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 3rd. Finally, Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and dropped their price objective for the company from $370.00 to $330.00 in a report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $343.74.
Read Our Latest Analysis on AAPL
More Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue estimates, with solid iPhone and Mac demand. Apple also says more apps optimized for its new foldable iPhone are coming, potentially improving the product’s appeal. Apple earnings beat
- Positive Sentiment: Apple has held up better than many chipmakers amid the AI-stock sell-off, and Bernstein raised its price target to $380 while maintaining a Buy rating. This relative strength may support investor sentiment. Apple holds up amid market weakness
- Neutral Sentiment: Apple is reportedly seeking about $7.5 billion through a bond offering. The financing provides flexibility, though the reports do not specify its use. The company is also limiting some employees’ AI-tool budgets, a move that could help control costs but raises questions about its internal AI investment. Apple bond sale report
- Negative Sentiment: Management warned of unprecedented memory-chip costs and supply constraints heading into the holiday quarter, putting gross margins at risk despite healthy demand. Investors are also weighing slower Services growth and Apple’s premium valuation. Memory costs and supply constraints
Institutional Trading of Apple
Large investors have recently made changes to their positions in the stock. Rasp Wealth Solutions LLC lifted its stake in Apple by 22.3% in the third quarter. Rasp Wealth Solutions LLC now owns 9,598 shares of the iPhone maker’s stock valued at $3,196,000 after purchasing an additional 1,748 shares during the last quarter. MSH Capital Advisors LLC grew its holdings in Apple by 6.3% during the third quarter. MSH Capital Advisors LLC now owns 194,258 shares of the iPhone maker’s stock valued at $64,661,000 after purchasing an additional 11,582 shares during the period. Cornerstone Advisory LLC increased its position in Apple by 34.9% in the third quarter. Cornerstone Advisory LLC now owns 154,374 shares of the iPhone maker’s stock worth $51,410,000 after buying an additional 39,931 shares during the last quarter. Shah Wealth Advisors LLC increased its position in Apple by 16.8% in the third quarter. Shah Wealth Advisors LLC now owns 23,079 shares of the iPhone maker’s stock worth $7,686,000 after buying an additional 3,315 shares during the last quarter. Finally, Wellington Grp LLC raised its stake in shares of Apple by 4.9% in the third quarter. Wellington Grp LLC now owns 23,948 shares of the iPhone maker’s stock valued at $7,975,000 after buying an additional 1,111 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Company Profile
Apple Inc designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS.
The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple’s devices and are sold to consumers, businesses and institutions around the world.
Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.
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