Investors Sell Apple (AAPL) on Strength (AAPL)

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Traders sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Tuesday. $1,876.18 million flowed into the stock on the tick-up and $2,304.52 million flowed out of the stock on the tick-down, for a money net flow of $428.34 million out of the stock. Of all companies tracked, Apple had the highest net out-flow for the day. Apple traded up $2.08 for the day and closed at $222.73

A number of equities analysts recently commented on AAPL shares. Royal Bank of Canada set a $240.00 target price on Apple and gave the stock a “buy” rating in a report on Monday, September 24th. Wells Fargo & Co reaffirmed a “neutral” rating and issued a $210.00 target price on shares of Apple in a report on Friday, August 10th. JPMorgan Chase & Co. started coverage on Apple in a report on Thursday, September 27th. They issued an “overweight” rating and a $272.00 target price on the stock. Morgan Stanley raised their target price on Apple from $214.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, July 24th. Finally, Oppenheimer reaffirmed a “neutral” rating on shares of Apple in a report on Monday, October 1st. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $224.63.

The stock has a market cap of $1,077.94 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 1.68 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 earnings per share. As a group, analysts forecast that Apple Inc. will post 11.76 earnings per share for the current fiscal year.

In related news, insider Luca Maestri sold 100,245 shares of Apple stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $228.56, for a total value of $22,911,997.20. Following the completion of the transaction, the insider now owns 91,665 shares in the company, valued at $20,950,952.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 564,185 shares of company stock valued at $124,444,213. Company insiders own 0.06% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fort L.P. purchased a new position in Apple in the second quarter worth about $119,000. Delphi Private Advisors LLC purchased a new position in Apple in the second quarter worth about $120,000. Cranbrook Wealth Management LLC boosted its position in shares of Apple by 76.1% during the second quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock valued at $129,000 after buying an additional 302 shares during the period. Quattro Financial Advisors LLC purchased a new position in shares of Apple during the first quarter valued at approximately $133,000. Finally, Smart Portfolios LLC purchased a new position in shares of Apple during the first quarter valued at approximately $134,000. Institutional investors own 58.51% of the company’s stock.

Apple Company Profile (NASDAQ:AAPL)

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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