Arthur D. Levinson Sells 37,394 Shares of Apple Inc. (NASDAQ:AAPL) Stock

Apple Inc. (NASDAQ:AAPL) Director Arthur D. Levinson sold 37,394 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the transaction, the director now owns 1,170,677 shares of the company’s stock, valued at $301,788,823.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of AAPL opened at $260.14 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 1.01. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $260.44. The stock has a market capitalization of $1,142.50 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. The firm’s fifty day simple moving average is $235.37 and its two-hundred day simple moving average is $209.53.

Apple (NASDAQ:AAPL) last posted its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The company had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. During the same quarter in the prior year, the business posted $2.91 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 13.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.18%. Apple’s dividend payout ratio is presently 25.90%.

AAPL has been the subject of several research analyst reports. Citigroup upped their price target on shares of Apple from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Monness Crespi & Hardt upped their price target on shares of Apple from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Credit Suisse Group upped their price target on shares of Apple from $209.00 to $221.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Nomura upped their price target on shares of Apple from $205.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wedbush reiterated an “outperform” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, October 29th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Apple presently has a consensus rating of “Hold” and a consensus target price of $239.51.

Several institutional investors and hedge funds have recently bought and sold shares of AAPL. Invesco Ltd. increased its stake in Apple by 2.6% in the 2nd quarter. Invesco Ltd. now owns 46,879,136 shares of the iPhone maker’s stock valued at $9,278,319,000 after buying an additional 1,203,705 shares during the last quarter. Morgan Stanley increased its stake in Apple by 5.8% in the 2nd quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock valued at $7,176,836,000 after buying an additional 1,996,126 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Apple by 2,874.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after buying an additional 34,707,634 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Apple by 0.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 20,240,790 shares of the iPhone maker’s stock valued at $4,006,058,000 after buying an additional 161,912 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Apple by 2.2% in the 3rd quarter. Fisher Asset Management LLC now owns 14,041,509 shares of the iPhone maker’s stock valued at $3,144,877,000 after buying an additional 302,917 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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