Apple (NASDAQ:AAPL) Trading Down 1.1% After Insider Selling

Apple Inc. (NASDAQ:AAPLGet Free Report)’s share price traded down 1.1% during trading on Wednesday following insider selling activity. The company traded as low as $294.36 and last traded at $295.95. Approximately 41,805,550 shares were traded during trading, a decline of 12% from the average session volume of 47,664,961 shares. The stock had previously closed at $299.24.

Specifically, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AAPL shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Monday, March 2nd. Evercore reiterated an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Wedbush reissued an “outperform” rating and set a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. Robert W. Baird set a $310.00 price objective on shares of Apple in a research report on Friday, May 1st. Finally, Morgan Stanley set a $325.00 price objective on shares of Apple in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.59.

View Our Latest Analysis on AAPL

Apple News Summary

Here are the key news stories impacting Apple this week:

  • Positive Sentiment: Apple is reportedly building a new wave of products, including AI-enabled AirPods with cameras and a foldable iPhone, which supports its longer-term innovation pipeline and could open new revenue streams. Article Title
  • Positive Sentiment: Bank of America reiterated a Buy rating and a $380 price target on Apple, saying the company still has strong pricing power and supply-chain advantages despite higher component costs. Article Title
  • Positive Sentiment: Apple is being viewed as relatively well positioned to navigate the memory shortage because of its scale and inventory planning, which could help protect margins versus smaller device makers. Article Title
  • Neutral Sentiment: Tim Cook said Apple will likely raise prices on some products because memory and storage chip costs are becoming “unavoidable,” which may offset costs but also raise concern about demand. Article Title
  • Neutral Sentiment: Reports that Apple may shift more chip manufacturing to Intel in the U.S. were not confirmed by either company, so the potential impact remains speculative for now. Article Title
  • Negative Sentiment: The memory-chip shortage is creating cost pressure across Apple’s hardware lineup, raising the risk of margin compression if price increases do not fully offset higher input costs. Article Title

Apple Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $288.95 and a two-hundred day moving average of $272.80. The stock has a market capitalization of $4.38 trillion, a price-to-earnings ratio of 36.04, a P/E/G ratio of 2.58 and a beta of 1.09.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. On average, research analysts expect that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is presently 13.06%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Evansbrook LLC raised its position in Apple by 0.4% in the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock worth $2,054,000 after acquiring an additional 34 shares in the last quarter. JMG Financial Group Ltd. boosted its position in shares of Apple by 0.7% during the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock worth $1,295,000 after purchasing an additional 35 shares in the last quarter. Reyes Financial Architecture Inc. grew its stake in shares of Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after purchasing an additional 37 shares during the period. WESPAC Advisors LLC grew its stake in shares of Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after purchasing an additional 39 shares during the period. Finally, Interactive Financial Advisors Inc. increased its holdings in shares of Apple by 4.0% in the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after purchasing an additional 40 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

About Apple

(Get Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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