Apple (NASDAQ:AAPL) Stock Unloaded Rep. Thomas R. Suozzi

Representative Thomas R. Suozzi (D-New York) recently sold shares of Apple Inc. NASDAQ: AAPL. In a filing disclosed on October 24th, the Representative disclosed that they had sold between $15,001 and $50,000 in Apple stock on October 7th. The trade occurred in the Representative's "MERRILL LYNCH- ADVISOR DISCRETION ACCOUNT" account.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $0.84 during trading hours on Friday, reaching $231.41. The stock had a trading volume of 38,802,304 shares, compared to its average volume of 59,638,496. The business's fifty day moving average is $226.86 and its two-hundred day moving average is $210.06. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market cap of $3.55 trillion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple's revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple's payout ratio is 15.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAPL. Wedbush restated an "outperform" rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. KeyCorp cut Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price target on the stock. in a research report on Friday. Monness Crespi & Hardt reiterated a "buy" rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Raymond James upped their price target on Apple from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded Apple from a "hold" rating to a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $235.91.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company's stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. grew its stake in Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker's stock valued at $2,249,000 after purchasing an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC grew its stake in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker's stock valued at $813,000 after purchasing an additional 46 shares in the last quarter. Verus Financial Partners Inc. grew its stake in Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker's stock valued at $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory boosted its stake in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker's stock worth $287,000 after acquiring an additional 50 shares during the period. Finally, Core Wealth Management Inc. boosted its stake in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker's stock worth $625,000 after acquiring an additional 50 shares during the period. 60.41% of the stock is currently owned by institutional investors.

About Representative Suozzi

Thomas Richard Suozzi (born August 31, 1962) is an American politician, attorney, and accountant serving as the U.S. representative for New York's 3rd congressional district since 2024 and previously from 2017 to 2023. A member of the Democratic Party, he was the county executive of Nassau County on Long Island from 2002 to 2009, when he was unseated by Republican Ed Mangano. Before that, Suozzi served eight years as the mayor of Glen Cove in Nassau County. In 2006, he ran unsuccessfully against Eliot Spitzer for the Democratic nomination for governor of New York. Suozzi was elected to the U.S. House of Representatives in 2016 and reelected in 2018 and 2020. He retired from Congress to run again for the Democratic gubernatorial nomination in 2022, losing to incumbent governor Kathy Hochul. In October 2023, Suozzi announced that he would run for his old congressional seat in 2024.After Congress expelled George Santos that December, a special election to fill the remainder of the term was scheduled for February 13, 2024. Suozzi was selected as the Democratic nominee, and then won the special election, reclaiming the seat for Democrats.

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.