Apple (NASDAQ:AAPL) Stock Price Down 0% on Insider Selling

Shares of Apple Inc. (NASDAQ:AAPL - Get Free Report) were down 0% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $225.45 and last traded at $225.79. Approximately 8,912,018 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 62,606,078 shares. The stock had previously closed at $225.89.

Specifically, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at approximately $3,469,275. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of research analysts have weighed in on AAPL shares. Wedbush increased their target price on Apple from $275.00 to $285.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Bank of America reiterated a "buy" rating and set a $230.00 price objective on shares of Apple in a research report on Tuesday, July 9th. StockNews.com upgraded Apple from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th. UBS Group reiterated a "neutral" rating and issued a $190.00 price target on shares of Apple in a report on Monday, July 1st. Finally, Needham & Company LLC restated a "buy" rating and issued a $260.00 target price on shares of Apple in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $233.63.

Apple Stock Performance

The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.60 and a beta of 1.24. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm's fifty day moving average price is $219.56 and its 200-day moving average price is $193.69.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. Analysts expect that Apple Inc. will post 6.61 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th 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 Monday, August 12th. Apple's payout ratio is currently 15.55%.

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Apple

Large investors have recently bought and sold shares of the stock. Verus Financial Partners Inc. boosted its position in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker's stock worth $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory raised its position 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 valued at $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. lifted its position in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker's stock worth $625,000 after buying an additional 50 shares during the last quarter. Lowery Thomas LLC lifted its holdings in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker's stock worth $1,602,000 after acquiring an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker's stock worth $949,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company's stock.

Apple Company Profile

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.