Rep. Laurel M. Lee Buys Apple Inc. (NASDAQ:AAPL) Stock

Representative Laurel M. Lee (R-Florida) recently bought shares of Apple Inc. (NASDAQ:AAPL). In a filing disclosed on November 21st, the Representative disclosed that they had bought between $15,001 and $50,000 in Apple stock on October 7th.

Representative Laurel M. Lee also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of GE Vernova (NYSE:GEV) on 11/8/2024.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 10/21/2024.
• Purchased $50,001 – $100,000 in shares of JPMorgan Chase & Co. (NYSE:JPM) on 9/10/2024.

Apple Trading Up 0.6 %

Shares of AAPL stock opened at $229.87 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock’s fifty day moving average is $227.73 and its two-hundred day moving average is $218.06. The firm has a market capitalization of $3.47 trillion, a P/E ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup boosted their target price on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Loop Capital reduced their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.25.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apple

A number of hedge funds have recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. FMR LLC increased its holdings in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC raised its stake in Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Apple by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after buying an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

About Representative Lee

Laurel Lee (Republican Party) is a member of the U.S. House, representing Florida’s 15th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Lee (Republican Party) is running for re-election to the U.S. House to represent Florida’s 15th Congressional District. She declared candidacy for the Republican primary scheduled on August 20, 2024. Gov. Ron DeSantis (R) appointed Lee to serve as the Florida Secretary of State on January 28, 2019, after the resignation of Michael Ertel on January 24. Lee resigned on May 16, 2022. Lee was a judge of the 13th Judicial Circuit Court in Florida from 2013 to 2019. She was appointed to the court by Gov. Rick Scott (R) in May 2013. She was elected to the position in 2014. Laurel Lee earned undergraduate and law degrees from the University of Florida. Lee’s career experience includes working as an attorney with Carlton Fields, P.A., an assistant federal public defender and assistant U.S. attorney with the United States District Court for the Middle District of Florida, and a law clerk to James S. Moody on the United States District Court for the Middle District of Florida.

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.