Insider Selling: Apple (NASDAQ:AAPL) CEO Sells $33,375,798.03 in Stock

Apple Inc. (NASDAQ:AAPL) CEO Timothy Cook sold 129,963 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Apple Stock Performance

Apple stock opened at $258.02 on Monday. The company has a market cap of $3.83 trillion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock’s 50-day moving average is $233.09 and its 200-day moving average is $214.69.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s payout ratio is presently 15.78%.

Institutional Investors Weigh In On Apple

Large investors have recently added to or reduced their stakes in the stock. Ryan Investment Management Inc. bought a new position in Apple in the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Life Planning Partners Inc acquired a new stake in Apple in the 4th quarter valued at approximately $47,000. Nexus Investment Management ULC raised its stake in Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after acquiring an additional 200 shares in the last quarter. Finally, Elite Financial Inc. bought a new stake in Apple during the 1st quarter valued at $58,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on AAPL shares. UBS Group reiterated a “neutral” rating on shares of Apple in a report on Monday, September 8th. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Thursday, September 4th. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Friday, July 25th. Finally, Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $247.49.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.