Apple (NASDAQ:AAPL) Stock Price Down 0.6% Following Insider Selling

Apple Inc. (NASDAQ:AAPL - Get Free Report)'s share price was down 0.6% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $226.36 and last traded at $226.96. Approximately 8,885,263 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 58,285,961 shares. The stock had previously closed at $228.28.

Specifically, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company's stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AAPL shares. Maxim Group boosted their target price on shares of Apple from $203.00 to $215.00 and gave the company a "hold" rating in a report on Friday, November 1st. Bank of America reissued a "buy" rating and set a $256.00 price target on shares of Apple in a research report on Thursday, October 3rd. Rosenblatt Securities upped their target price on Apple from $261.00 to $262.00 and gave the company a "buy" rating in a report on Friday, November 1st. Robert W. Baird lifted their price objective on shares of Apple from $200.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Finally, Wedbush restated an "outperform" rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average price target of $235.25.

Apple Stock Up 0.3 %

The stock has a market cap of $3.46 trillion, a P/E ratio of 37.66, a PEG ratio of 2.20 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business has a 50-day simple moving average of $227.47 and a 200-day simple moving average of $217.40.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analysts' expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple's dividend payout ratio (DPR) is currently 16.45%.

Institutional Trading of Apple

Hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC lifted its position in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker's stock worth $35,000 after acquiring an additional 31,278 shares during the period. Bull Oak Capital LLC increased its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after acquiring an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple during the 3rd quarter valued at about $77,000. 60.41% of the stock is owned by institutional investors.

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.