Jeffrey E. Williams Sells 59,730 Shares of Apple Inc. (NASDAQ:AAPL) Stock

05 Oct 2024, 14:36 by Doug Wharley · The Cerbat Gem

Apple Inc. (NASDAQ:AAPL – Get Free Report) COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Apple Trading Up 0.5 %

AAPL opened at $226.80 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The stock has a fifty day moving average price of $222.90 and a 200-day moving average price of $203.86. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AAPL shares. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, September 10th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Thursday, September 19th. Bank of America reissued a “buy” rating and set a $256.00 target price on shares of Apple in a research report on Thursday. Robert W. Baird raised their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, UBS Group boosted their price objective on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.76.

Get Our Latest Analysis on AAPL

Institutional Trading of Apple

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Apple in the fourth quarter worth about $33,912,466,000. Vanguard Group Inc. boosted its stake in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Swedbank AB acquired a new position in Apple during the 1st quarter valued at approximately $3,026,492,000. Global Assets Advisory LLC raised its holdings in shares of Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after buying an additional 9,200,345 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its stake in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Company Profile

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