Apple Inc. (NASDAQ:AAPL) has been the object of insider selling activity recently. Daniel J. Riccio, Sr VP disclosed the sale of 11,949 shares. The shares were purchased at an average price of $155.51. The Sr VP now owns $1,858,189 of the stock according to the SEC filing. Luca Maestri, Sr VP let go of $735,527 worth of shares at an average price of $154.62 on June 2nd. That brings the Sr VP’s holdings to $101,585 as reported to the SEC.
Sr VP Johny Srouji let go of 10,019 shares at a price of $153.95 on Tue the 30th. The Sr VP now owns $13,350,390 of the stock as recorded in a recent Form 4 SEC filing.
Apple Inc., launched on January 3, 1977, designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players. The Company sells a range of related software, services, accessories, networking solutions and third-party digital content and applications. The Business’s segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific. The Americas segment includes both North and South America. The Europe segment includes European countries, India, the Middle East and Africa. The Greater China segment includes China, Hong Kong and Taiwan. The Rest of Asia Pacific segment includes Australia and the Asian countries not included in the Business’s other operating segments. The Business’s products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings..
These firms have also modified their investment in AAPL. As of quarter end Sowell Financial Services LLC had bought a total of 16,710 shares growing its holdings by 32.2%. The value of the investment in Apple Inc. increased from $6,998,000 to $10,510,000 a change of 50.2% for the reporting period. As of the end of the quarter Piedmont Investment Advisors LLC had disposed of 130,171 shares trimming its stake by 7.7%. The value of the investment in (AAPL) went from $196,153,000 to $224,603,000 a change of $28,450,000 quarter over quarter.
Bedell Frazier Investment Counseling, LLC downsized its holdings by shedding 44,098 shares a decrease of 25.5% from 12/31/2016 to 03/31/2017. Bedell Frazier Investment Counseling, LLC claims 128,711 shares valued at $18,491,000. The value of the position overall is down by 7.6%. Phh Investments, Ltd. bolstered its position by buying 4,370 shares an increase of 67.7% as of 03/31/2017. Phh Investments, Ltd. owns 10,824 shares with a value of $1,583,000. The total value of its holdings increased 101.1%.
On June 5, 2017 the stock rating was rated “Sector Weight” by Pacific Crest which was a cut from the previous “Hold” rating. October 26 investment analysts at Credit Suisse maintained a company rating of “Overweight” and moved up the price target from $150.00 to $155.00.
On October 26 Macquarie left the company rating at “Overweight” and raised the price target to $155.00 from $105.00. Stifel Nicolaus downgraded the stock and raised the price target on October 26 boosting the price target from $120.00 to $150.00 and altering the rating from “Buy” to “Outperform”.
October 26 investment analysts at Drexel Hamilton held the stock rating at “Buy” but raised the price target to $185.00 from $123.00. On October 26 Morgan Stanley made no change to the stock rating of “Buy” but moved up the price target from $115.00 to $185.00.
The company is now down from yesterday’s close of $154.99. Additionally Apple Inc. announced a dividend for shareholders paid on Thursday the 18th of May 2017. The dividend was $0.630 per share for the quarter or $2.52 annualized. The dividend yield was $1.63. The ex-dividend date was set for Thursday the 11th of May 2017.
It is currently trading at $148.98 slightly below $150.87, the 50 day moving average and which is just a bit higher than the 200 day moving average of $133.86. The 50 day moving average was down by -1.25% and the 200 day average went up by +11.30%.
The company currently has a P/E ratio of 17.48 and the market value is 776.76B. In the latest earnings report the EPS was $8.52 and is projected to be $8.94 for the current year with 5,213,839,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $1.89 with next year’s EPS anticipated to be $10.53.
Short traders are feeling a little more bearish on Apple Inc. recently looking at the rise in short interest. The company saw a rise in short interest from May 15, 2017 to April 28, 2017 of 10.34%. Short shares increased from 45,231,755 to 49,908,997 over that timeframe. Days to cover decreased from 2.5 to 1.5 and the percentage of shorted shares was 0.01% on April 28.