Traders Sell Shares of Apple Inc. (AAPL) on Strength (AAPL)

Investors sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Monday. $1,527.84 million flowed into the stock on the tick-up and $1,576.82 million flowed out of the stock on the tick-down, for a money net flow of $48.98 million out of the stock. Of all equities tracked, Apple had the 6th highest net out-flow for the day. Apple traded up $3.67 for the day and closed at $166.72

AAPL has been the topic of a number of analyst reports. Vetr upgraded shares of Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective on the stock in a research report on Friday, September 22nd. Rosenblatt Securities restated a “hold” rating and issued a $150.00 price objective on shares of Apple in a research report on Sunday, October 15th. Nomura restated a “buy” rating and issued a $165.00 price objective on shares of Apple in a research report on Wednesday, July 5th. Bank of America Corporation restated a “buy” rating and issued a $180.00 price objective on shares of Apple in a research report on Tuesday, September 26th. Finally, Pacific Crest upgraded shares of Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 price objective on the stock in a research report on Monday, October 16th. Eight investment analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company. Apple has an average rating of “Buy” and a consensus target price of $193.05.

The firm’s 50-day moving average is $156.87 and its 200-day moving average is $152.95. The company has a market capitalization of $861.15 billion, a PE ratio of 18.93 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. During the same period last year, the business earned $1.42 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post $9.00 EPS for the current fiscal year.

In related news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of Apple stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold a total of 541,177 shares of company stock worth $85,864,804 over the last 90 days. Company insiders own 0.08% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. boosted its stake in Apple by 0.6% in the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after purchasing an additional 834,854 shares in the last quarter. Capital Research Global Investors boosted its stake in Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after purchasing an additional 3,845,363 shares in the last quarter. Legal & General Group Plc boosted its stake in Apple by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after purchasing an additional 771,046 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Apple by 301.3% in the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after purchasing an additional 15,018,790 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Apple by 1.5% in the 2nd quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock worth $2,760,779,000 after purchasing an additional 275,400 shares in the last quarter. Institutional investors own 60.33% of the company’s stock.

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About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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