Rep. Nancy Pelosi Sells Off Shares of Apple Inc. (NASDAQ:AAPL)

Representative Nancy Pelosi (D-California) recently sold shares of Apple Inc. (NASDAQ:AAPL). In a filing disclosed on January 17th, the Representative disclosed that they had sold between $5,000,001 and $25,000,000 in Apple stock on December 31st.

Representative Nancy Pelosi also recently made the following trade(s):

• Sold $1,000,001 – $5,000,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/31/2024.
• Purchased $500,001 – $1,000,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/20/2024.
• Purchased $1,000,001 – $5,000,000 in shares of Palo Alto Networks (NASDAQ:PANW) on 12/20/2024.

Apple Price Performance

Shares of AAPL opened at $229.98 on Tuesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The business’s fifty day moving average is $241.01 and its 200 day moving average is $230.79. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.48 trillion, a P/E ratio of 37.83, a P/E/G ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cerro Pacific Wealth Advisors LLC raised its stake in Apple by 0.5% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 71,990 shares of the iPhone maker’s stock worth $16,774,000 after acquiring an additional 341 shares during the last quarter. FCG Investment Co grew its position in shares of Apple by 8.8% during the 4th quarter. FCG Investment Co now owns 56,272 shares of the iPhone maker’s stock valued at $14,092,000 after acquiring an additional 4,565 shares during the period. Lifestyle Asset Management Inc. grew its position in shares of Apple by 2.5% during the 4th quarter. Lifestyle Asset Management Inc. now owns 8,195 shares of the iPhone maker’s stock valued at $2,052,000 after acquiring an additional 203 shares during the period. Verde Capital Management lifted its stake in Apple by 9.9% in the 4th quarter. Verde Capital Management now owns 7,152 shares of the iPhone maker’s stock valued at $1,791,000 after buying an additional 646 shares in the last quarter. Finally, Seros Financial LLC purchased a new position in Apple in the 4th quarter valued at about $1,484,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AAPL. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup raised their target price on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.85.

About Representative Pelosi

Nancy Pelosi (Democratic Party) is a member of the U.S. House, representing California’s 11th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Pelosi (Democratic Party) is running for re-election to the U.S. House to represent California’s 11th Congressional District. She declared candidacy for the primary scheduled on March 5, 2024. Pelosi is the first and only woman to serve as speaker of the House. Pelosi was first elected to the U.S. House in a special election in 1987 to represent California’s 5th Congressional District, which she represented until her election to California’s 8th Congressional District in 2012. In 2002, she was elected minority leader, becoming the highest-ranking congresswoman of either party in U.S. history. When Democrats took control of the House in 2007, Pelosi made history again with her election as speaker of the House. Pelosi was re-elected speaker of the House in 2019, following the 2018 midterm elections. She served in that role until January 3, 2023. Notable legislation passed during her speakership includes the Affordable Care Act, the American Recovery and Reinvestment Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Lilly Ledbetter Fair Pay Act, and the Don’t Ask, Don’t Tell Repeal Act. Pelosi is also a prominent Democratic fundraiser, raising more than $700 million for the Democratic Party since becoming a party leader in 2002. Before holding public office, Pelosi served on the Democratic National Committee and as a chair of the California Democratic Party. Nancy Pelosi was born in Baltimore, Maryland. Pelosi graduated from the Institute of Notre Dame in 1958. She earned a bachelor’s degree from Trinity College in 1962. Pelosi served as the chair of the California State Democratic Party and the finance chairwoman of the Democratic Senatorial Campaign Committee.

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.