Rep. Nancy Pelosi Sells Apple Inc. (NASDAQ:AAPL) Stock

Representative Nancy Pelosi (D-California) recently sold shares of Apple Inc. (NASDAQ:AAPL). In a filing disclosed on October 24th, the Representative disclosed that they had sold between $100,001 and $250,000 in Apple stock on October 22nd.

Apple Trading Up 2.3%

Apple stock opened at $268.81 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.99 trillion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.56 and a beta of 1.09. Apple Inc. has a one year low of $169.21 and a one year high of $269.12. The company’s fifty day moving average price is $244.91 and its two-hundred day moving average price is $220.14.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the second quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Nexus Investment Management ULC grew its holdings in Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after acquiring an additional 200 shares during the period. Elite Financial Inc. acquired a new stake in Apple during the 1st quarter worth $58,000. Finally, LSV Asset Management acquired a new stake in Apple during the 4th quarter worth $65,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI reissued an “outperform” rating on shares of Apple in a research report on Monday, October 20th. Wells Fargo & Company raised their price target on Apple from $245.00 to $290.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Apple in a research report on Wednesday, October 8th. Morgan Stanley set a $298.00 price target on Apple and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Wedbush reaffirmed an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $252.83.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock worth $65,358,981 over the last quarter. 0.06% of the stock is currently owned by insiders.

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, 2027.

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 2026 election.[source]

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.

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.