Katherine L. Adams Sells 25,000 Shares of Apple Inc. (NASDAQ:AAPL) Stock

Apple Inc. (NASDAQ:AAPLGet Rating) SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Apple Price Performance

Apple stock opened at $165.35 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market capitalization of $2.66 trillion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The business has a 50 day simple moving average of $146.34 and a 200 day simple moving average of $157.12.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same period last year, the firm posted $1.30 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple announced that its board has authorized a share buyback plan on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. Apple’s dividend payout ratio is 15.18%.

Analyst Ratings Changes

AAPL has been the topic of a number of analyst reports. Itaú Unibanco initiated coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. The Goldman Sachs Group set a $139.00 price objective on Apple in a report on Friday, July 29th. Rosenblatt Securities lowered their target price on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Finally, Credit Suisse Group set a $166.00 target price on Apple in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $179.27.

Institutional Investors Weigh In On Apple

A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Coastal Bridge Advisors LLC increased its stake in shares of Apple by 3.0% in the 2nd quarter. Coastal Bridge Advisors LLC now owns 62,122 shares of the iPhone maker’s stock valued at $8,493,000 after buying an additional 1,818 shares during the period. Ascent Group LLC increased its stake in shares of Apple by 3.7% in the 2nd quarter. Ascent Group LLC now owns 151,388 shares of the iPhone maker’s stock valued at $24,602,000 after buying an additional 5,387 shares during the period. Pillar Wealth Advisors LLC increased its stake in shares of Apple by 2.7% in the 2nd quarter. Pillar Wealth Advisors LLC now owns 5,464 shares of the iPhone maker’s stock valued at $747,000 after buying an additional 142 shares during the period. Intercontinental Wealth Advisors LLC increased its stake in shares of Apple by 14.8% in the 2nd quarter. Intercontinental Wealth Advisors LLC now owns 86,345 shares of the iPhone maker’s stock valued at $11,805,000 after buying an additional 11,101 shares during the period. Finally, Lindenwold Advisors increased its stake in shares of Apple by 1.4% in the 2nd quarter. Lindenwold Advisors now owns 51,132 shares of the iPhone maker’s stock valued at $6,991,000 after buying an additional 708 shares during the period. 57.98% of the stock is owned by institutional investors and hedge funds.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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