Apple Inc. (NASDAQ:AAPL) Insider Chris Kondo Sells 4,999 Shares

Apple Inc. (NASDAQ:AAPL) insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Apple Stock Performance

NASDAQ AAPL opened at $189.87 on Friday. The company has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.28 and a beta of 1.26. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The stock has a fifty day simple moving average of $174.13 and a 200 day simple moving average of $182.53. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.57 EPS for the current year.

Apple announced that its Board of Directors has authorized a share buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.53%. Apple’s payout ratio is presently 15.55%.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Apple in a report on Friday, May 3rd. Citigroup dropped their price objective on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. DZ Bank reaffirmed a “hold” rating and issued a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. Finally, Canaccord Genuity Group boosted their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $204.71.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Wyrmwood Management LLC boosted its holdings in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Christopher J. Hasenberg Inc acquired a new stake in Apple in the first quarter worth $35,000. Fidelis Capital Partners LLC increased its stake in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple during the fourth quarter valued at about $39,000. Finally, Gilfoyle & Co LLC raised its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the period. 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.