Chris Kondo, an internal employee here at Apple Inc. (NASDAQ: AAPL), sold 20,200 shares of the company’s stock on Tuesday, November 22. At an average price of $148.72 per share, the stock could fetch a total of $3,004,144.00 upon its sale. Following the completion of the transaction, the business insider now directly owns 31,505 shares of the company’s stock, which together have a value of $4,685,423.60. This information about the sale was included in a document submitted to the Securities and Exchange Commission (SEC) and can be accessed here.
Apple (NASDAQ: AAPL) disclosed the results of its most recent quarterly financial report on Thursday, October 27. The company revealed earnings per share for the quarter, which makes the iPhonee $1.29, which is $0.02 more than the $1.27 forecast by analysts. The return on equity for Apple was 160.90%, and the company’s net margin was 25.31%. The revenue for the quarter came in at $90.15 billion, which was significantly higher than the $88.77 billion analysts had anticipated. The company had a net income of $1.24 per share during the previous year. In the third quarter, there was a 7.8% year-over-year revenue growth. Research analysts predict that Apple Inc. will generate $6.26 per share earnings during this fiscal year.
In addition, a quarterly dividend was announced and distributed by the corporation on November 10. On Tuesday, November 8, dividends of $0.23 per share were distributed to stockholders who had their shares recorded as of Monday, November 7. This corresponds to a payout of $0.92 each year and a dividend yield of 0.61% if we look at it on an annualized basis. This dividend became payable on November 4, which was a Friday. Apple has a payout ratio of 15.06% as of today.
At lunchtime on Wednesday, AAPL stock had increased by $0.89, reaching a price of $151.07. The stock was traded for 58,162,517 shares despite having an average volume of 88,910,023. The stock price is $146.70 according to its fifty-day simple moving average, and it is $149.66 according to its two-hundred-day simple moving average. Apple Inc. has seen its share price go as low as $129.04 and as high as $182.94 over the past year. The firm has a market capitalization of $2.40 quadrillion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.89, and a beta of 1.25. There is a debt-to-equity ratio of 1.95, the quick ratio is 0.85, the current ratio is 0.88, and the quick ratio is 0.85.
Recent months have seen several hedge funds make adjustments to the interests they already hold in the company. Robinson Value Management Ltd. established a new stake in Apple stock during the third quarter, purchasing around $28,000 shares. Hanseatic Management Services Inc. bought an additional 75.4% more shares of Apple during the third quarter than it did during the previous quarter. Hanseatic Management Services Inc. has increased its ownership in Apple stock from 107 shares in the previous quarter to 249, currently valued at $34,000. During the third quarter, Cheyne Capital Management UK LLP saw a 200.0% increase in the number of shares of Apple that it had in its portfolio. As of the end of the most recent quarter, Cheyne Capital Management UK LLP owned 550 shares of Apple stock, which has since been reduced to 275 shares valued at $293,000. During the second quarter, Spence Asset Management established a new stake in Apple stock, purchasing around $49,000 worth of shares. Last but not least, during the second quarter, Ramsey Quantitative Systems acquired a new investment in Apple stock valued at around $55,000. The stock is owned to 57.72% by institutional investors and hedge funds.
Several different analysts have offered their opinions regarding the company. Morgan Stanley lowered their price target on Apple from $177.00 to $175.00 and rated the firm as “overweight” in a research report that was made public on Tuesday, November 8. Apple was downgraded from a “buy” rating to a “neutral” rating by Bank of America (Bofa) in a report that was published on Friday, September 30. Additionally, Bank of America (Bofa) decreased its price target for the stock from $189.00 to $160.00. JPMorgan Chase & Co. projected that Apple’s share price would reach $200,000 in research that was made public on Monday. Itau BBA Securities published a research note on Tuesday, July 26, in which they announced the beginning of their coverage of Apple. They forecast that the stock would reach $136.00 per share and rated the firm with an “underperform” rating. Finally, Evercore ISI increased its price target on Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research report published on Tuesday, September 20. Two analysts have given the stock a recommendation of “sell,” seven analysts have given it a rating of “hold,” twenty-three analysts have given it a rating of “buy.” One analyst has given it a rating of “strong buy.” According to the data from Bloomberg.com, the stock is presently assigned a “Moderate Buy” rating, and its average price target is $176.26.