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Executives Sell Off Apple as Investors (and a Billionaire) Buy In

  +Follow August 19, 2013 10:40AM
Tickers Mentioned:

Apple, Inc. (AAPL) has come a long way since hitting a 52-weeek low of $388.87 a share on June 29 amid a massive sell-off. The stock has surged over the last month, and from Aug. 12 to Aug. 17 gained over 10 percent. Apple has been propelled both by impressive iPhone sales in the second quarter of 2013 and influential investor Carl Icahn sinking a reported $1.5 billion into the company, calling the tech giant “extremely undervalued.”

Yet at the same time Icahn is doubling down on the company, major executives at Apple are cashing out. According to a filing with the Securities and Exchange Commission, between Aug. 16 and Aug. 18, Senior Vice Presidents Dan Riccio and Phil Scheller respectively sold $1.9 million and $18.6 million worth of shares of the company.

They're not the only ones either. On July 29, Apple directors Bill Campbell and Millard Drexler cashed out for a combined $13.8 million, and on June 24, Senior Vice Presidents Bruce Sewell and Jeff Williams cashed out for around $15 million apiece.

It should be noted though, that these executives made clear their intentions to sell months prior, while Apple’s stock was lagging. The SEC requires higher-up execs to notify of intention to sell far in advance in order to preclude the possibility of insider trading. Also, the combined value of these stock sales is dwarfed by Icahn’s recent investment. Since he first tweeted his buy-in on Aug. 13, Icahn's investment has gained an estimated $150 million in value. 

While Icahn’s stake in the company is sizable, it still equals less than a percent of the company’s present value. Apple is flying so high they have comfortably regained their position as the most valuable company in the world. The company is now worth $466.33 billion, more than $70 billion ahead of the number two company ExxonMobil Corporation (XOM) . Apple surpassed Exxon on Aug. 1.

Though Apple is still down 18.58 percent on the year, they’re up 1.93 percent on the day to hit $511.99 a share.   

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for aapl
22 Aug 14 12:39:44
Also, Ellison and Jobs were both adopted, lived next to each other in Silicon Valley, and obviously friends/competitors. $ORCL $AAPL
Joshua Sanchez
22 Aug 14 12:38:54
$AAPL Here comes the resolution.
Early Global #News
22 Aug 14 12:38:50
China Telecom reveals iPhone 6 will run on all major Chinese networks: Pretty much everyon... http://t.co/hI78y4w3Fk #stocks #news $aapl
Joshua Sanchez
22 Aug 14 12:38:08
$AAPL Right back down to .25
Robert  Bragg
22 Aug 14 12:37:53
now a usual $AAPL sell off
Robert Cosentini
22 Aug 14 12:36:30
@TraderFlorida $AAPL 😄
22 Aug 14 12:36:04
RT @Benzinga: An Apple-Pandora Merger Would Be A 'Scary Combination' $AAPL $P http://t.co/KL4lNGlIh8
22 Aug 14 12:35:58
Sitting on 438% gain on $AAPL 71.43 calls. :)
Suburban Recluse
22 Aug 14 12:34:04
RT @bespokeinvest: Apple's market cap is currently equal to 30% of the entire Russell 2000. $AAPL $IWM
Kenneth Roberts
22 Aug 14 12:33:49
RT @CBOE_TV: $TLM Middle East asset sale, $MSFT false claims? $FB privacy woes & $AAPL production delay @MarleyKayden reports $$ http://t.…
22 Aug 14 12:32:25
Seems like the iPhone 6 delay rumors arrived right on time. $AAPL http://t.co/XECDMR3mek
Quantpost Cnsmr Good
22 Aug 14 12:31:44
$AAPL News Alert: http://t.co/nwoQxo0STa Updated options view: https://t.co/F7AJxS3har All options views: https://t.co/dUHzbxOXOr
22 Aug 14 12:31:40
An Apple-Pandora Merger Would Be A 'Scary Combination' $AAPL $P http://t.co/KL4lNGlIh8
Barron's 400 Index
22 Aug 14 12:30:51
RT @CBOE_TV: $TLM Middle East asset sale, $MSFT false claims? $FB privacy woes & $AAPL production delay @MarleyKayden reports $$ http://t.…
AAPL Stock Alerts
22 Aug 14 12:30:06
Apple: Monetization Is Easier Said Than Done http://t.co/qEWFR7BnMv $AAPL
22 Aug 14 12:28:49
Yes, even Apple by proxy. “@rupertmurdoch: Publishers and authors all fighting Amazon” $AAPl $AMZN
Quang Doan
22 Aug 14 12:28:12
#Russia Convoy is #Ukraine is like a time bomb for the market. What happened to it is everyone guess. $ES_F $SPY $AAPL $AMZN
Jonathan Lee
22 Aug 14 12:25:41
RT @geoffreylockard: #GoSapphire $gtat $aapl http://t.co/eDNcUqtQvp http://t.co/wtBKoaTksL
22 Aug 14 12:24:54
*Movers $UA $FL $LEJU $TWTR $UUP $GWPH $PALL $YHOO $TSLA $AAPL $HAR $TAN $JBSS ...and more...
Apple News $AAPL
22 Aug 14 12:24:26
$AAPL Forums: encryption, crashes and hot Macs http://t.co/z5iWwjXRrO @MaximumPenny
Apple News $AAPL
22 Aug 14 12:24:26
$AAPL Apple deals: MacBook Pro configurations from $929 http://t.co/uTxvDxJ6wH @MaximumPenny
Apple News $AAPL
22 Aug 14 12:24:26
$AAPL DealNN: MacBook Air, iMac, HDTVs and more http://t.co/drYi3kA65K @MaximumPenny
22 Aug 14 12:23:12
$AAPL run you POS run
22 Aug 14 12:21:24
$TLM Middle East asset sale, $MSFT false claims? $FB privacy woes & $AAPL production delay @MarleyKayden reports $$ http://t.co/rhZkPrnWxD
22 Aug 14 12:21:05
$AAPL - Here is An Option Trade With 100% Gain Potential in it http://t.co/9WrstayudU
22 Aug 14 12:17:30
@RedDogT3 this mkt and many stocks $lnkd $tsla $aapl $fb $brcm $intc $hd etc etc looks primed for a MASSIVE move.that's how these r trading.
22 Aug 14 12:16:08
Apple Inc.: The stock is testing its highs. $AAPL http://t.co/DGOMST0TZS http://t.co/iazbQoQnwF
Stun Tech
22 Aug 14 12:14:03
Hasta foto pusieron en weibo ( el twitter chino ) #ChinaTelecom $AAPL http://t.co/3Tw0tyvJ8L
Joshua Sanchez
22 Aug 14 12:13:10
$AAPL Quicker sell acceleration vs. buying recovery Joe's bids it up and institutions sell down. http://t.co/99Fqbh6SOW
Jim Neal
22 Aug 14 12:12:25
@jeffhksar88 Watch $AAPL in last 18 minutes.
Jake J. Darley
22 Aug 14 12:12:03
RT @geoffreylockard: #GoSapphire $gtat $aapl http://t.co/eDNcUqtQvp http://t.co/wtBKoaTksL
Brian Sozzi
22 Aug 14 12:10:47
1 share of #Apple... ...or 1 pair of used #Beats headphones? $AAPL
Options Strategies
22 Aug 14 12:10:42
Not much upside left for $AAPL. No way would I buy at these levels.
22 Aug 14 12:09:22
RT @geoffreylockard: #GoSapphire $gtat $aapl http://t.co/eDNcUqtQvp http://t.co/wtBKoaTksL
Steve Wakelin
22 Aug 14 12:09:03
Still long $BIDU sept calls look to add to that next week and also still long Jan 105 $AAPL calls. Have $TSLA Sept 265 calls
Media Sentiment
22 Aug 14 12:08:57
$AAPL received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 291
22 Aug 14 12:06:28
$AAPL more bids coming in, should lift $101.25...
Long-Short Hedgie
22 Aug 14 12:06:25
RT @bespokeinvest: Apple's market cap is currently equal to 30% of the entire Russell 2000. $AAPL $IWM
22 Aug 14 12:05:59
$AAPL is showing some nice momentum, very strong for a Fri. All indicators are firing on all cylinders here today. http://t.co/uX5cLvQEGu
Momentum Stocks
22 Aug 14 12:05:47
$EJ screaming buy. The air above is clean $SPY $AAPL $GS $GOOG $SPX $BAC $EBAY
22 Aug 14 12:03:42
Samsung Uses Ice Bucket Challenge To Troll Apple, HTC, Nokia. #Bullish or #Bearish on $AAPL. Share with us here: http://t.co/1NUeFfp69O
PTT Research
22 Aug 14 12:03:09
RT @Agterzis: @CoryTV you need tointrvw a son of Rochester he's amazgly well versed on $aapl vndrs $invn $mu $gtat sapphire is the story @S…
PTT Research
22 Aug 14 12:02:57
RT @Sapphirecover24: Full report of $AAPL and $GTAT expansion plans at Mesa for producing a new component #iwatch along with the #iphone6 h…
Winborn Traders
22 Aug 14 12:02:44
Just Imagine if you could Find market's Intraday Highs and Lows for $ES_F #dayTrading $SPX $SPY $DJI $AAPL $QQQ $IWM
22 Aug 14 12:02:35
RT @JustinPulitzer: This Weekend's #JPWeekendVideo covers $AAPL, $NFLX, $TSLA, $SPY updates, including $TSLA 2x top scenario. Also, $CRM pr…
22 Aug 14 12:02:17
Support now resistance in $AAPL nonetheless the shares made a new all time high today of 101.47 http://t.co/2pwgXpjOhw
Financial Headlines
22 Aug 14 12:01:15
$AAPL: Apple iPhone 6, iWatch Releases Reportedly Delayed By Production Hiccups http://t.co/jJqdxv01if http://t.co/3DUFrelhMm
Jeff Lockard
22 Aug 14 12:00:35
#GoSapphire $gtat $aapl http://t.co/eDNcUqtQvp http://t.co/wtBKoaTksL
AAPL Stock Alerts
22 Aug 14 12:00:04
Why Apple's Partnership With IBM Could Save The iPad http://t.co/jqHJKAvmrR $IBM $AAPL
22 Aug 14 11:59:49
RT @bespokeinvest: Apple's market cap is currently equal to 30% of the entire Russell 2000. $AAPL $IWM
  +Follow August 19, 2013 10:40AM



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