Apple (NASDAQ:AAPL) SVP Katherine Adams Sells 47,125 Shares

Apple Inc. (NASDAQ:AAPL) SVP Katherine Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Apple Price Performance

NASDAQ AAPL opened at $258.02 on Friday. The firm’s 50 day moving average is $233.09 and its 200-day moving average is $214.69. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.83 trillion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating 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 business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is currently 15.78%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group reissued a “buy” rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. HSBC set a $220.00 price objective on Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Bank of America increased their price objective on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. UBS Group restated a “neutral” rating on shares of Apple in a report on Monday, September 8th. Finally, Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Thursday, September 4th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $247.49.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently modified their holdings of AAPL. Burkett Financial Services LLC increased its holdings in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC grew its position in Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC increased its stake in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after acquiring an additional 240 shares during the period. OneAscent Wealth Management LLC raised its holdings in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after acquiring an additional 409 shares in the last quarter. Finally, Andina Capital Management LLC raised its holdings in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after acquiring an additional 4,591 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

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.