logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


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

  +Follow August 19, 2013 10:40AM
Share:
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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for aapl
IH News Desk
27 May 15 08:31:07
AAPL Apple, Inc. Stock Forum http://t.co/WrZoAqb8nm $AAPL $PANW $HD $IBB #AAPL #tradeideas #invest
Bilo Selhi
27 May 15 08:30:59
http://t.co/uAcamNRUPt subscribers alerted to options gaining 100+%. JOIN NOW $AAPL $QQQ http://t.co/sNZTBFBOL9 http://t.co/rm4Nl6Um0O
CMG-The Best Stocks
27 May 15 08:30:47
RT @ValueLine: The dogs of the #Dow put in a strong performance in April. #stocks #DJIA $GE $CAT $PFE $MCD $KO $AAPL $T http://t.co/qz0Dn9k…
Brad Womick
27 May 15 08:30:45
$UBQU up +13.6%!! #1 New MJ Stock!! $LVGI $MINE $ADMD $BRWC $LIBE $CTIX $UNGS $STOA $HJOE $PPHM $AAPL $GOOG $FB $TSLA $THCZ $OSLH $PMCB $NHL
jim50
27 May 15 08:30:41
AA Alcoa, Inc. Yield http://t.co/SdKTrUI7do $AA $AAPL $DIA $FXE #AA #tradeideas #stock
Chayton Falke
27 May 15 08:30:14
Chayton Falke� YouTube Channel http://t.co/UynV2Qvrrs #trading #startups #stock $AAPL #money #investor #angel #investoreducation #capital
Pepe Plata
27 May 15 08:30:09
$SHOP Shopify Inc http://t.co/Fin6H9ELGy $UWTI $ROST $AAPL $ERX #UWTI #investing #finance
AAPL Stock Alerts
27 May 15 08:30:06
Apple's Cook Visits Vice Premier, China Telecom http://t.co/oQtWGz2gPu $CHA $AAPL
steven spencer
27 May 15 08:29:45
131.60 interesting level in $AAPL. strong today but has yet to trade above there
ThinkingProfit.com
27 May 15 08:29:16
$AAPL: 7 open, suited signals indicate continued price increase for about 6 more days. http://t.co/cM3JeB1LW5
Kourtney Harkley
27 May 15 08:29:08
RT @bosocial: RT $AAPL received a new alert. Find out why at http://t.co/rRtKVALqb5 #stocks #daytrading #trading #mkt #NYSE #… http://t.co…
Kaz Nejatian
27 May 15 08:28:58
RT @ericjackson: Since the iPhone was introduced on January 9, 2007, $AAPL's stock price is up 10x. $BBRY is down 93%.
ACG Bolsa
27 May 15 08:27:47
Abriendo 3 largos de $AAPL a 131.44USD con un PT en 164.793 y con un SL en 114.793 IDOP235354 vía @TTt... http://t.co/HidQJgmvDl
binaryoptionsocial
27 May 15 08:27:34
RT Visit our site for a FREE volatility band indicator! http://t.co/tmIwGdgwH6 $SPY $SPX $RUT $IWM $QQQ $AAPL $F… http://t.co/XG5hVFJGig
Breaking News Now
27 May 15 08:27:14
$GOOG $MSFT $AAPL $FB: What the Heck Happened to Google?: http://t.co/7l6xjLmOYw
binaryoptionsocial
27 May 15 08:26:37
RT $AAPL received a new alert. Find out why at http://t.co/rRtKVALqb5 #stocks #daytrading #trading #mkt #NYSE #… http://t.co/Csk7miIhta
Эрдэнэбаатар
27 May 15 08:26:33
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/b4YS7M71zn, Inc, and Google Inc. http://t.co/5N0T1zfy3l
TI
27 May 15 08:26:32
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/g0eV4GZHJl, Inc, and Google Inc. http://t.co/cnsxnVykk6
ADVFN France
27 May 15 08:26:31
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/DNMeHU6bkJ, Inc, and Google Inc. http://t.co/yoCgDLF1Wq
Artiom Barski
27 May 15 08:26:29
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/1KCweeufhS, Inc, and Google Inc. http://t.co/Vt1cpMBZ4P
matt collom
27 May 15 08:26:25
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/S0BB9xF5B6, Inc, and Google Inc. http://t.co/RzBJIjVkFn
Kubilay Nacak
27 May 15 08:26:25
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/47E5vNEJm6, Inc, and Google Inc. http://t.co/lYmxPwmJb2
Kevin Orukel
27 May 15 08:26:24
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/I7S2E3DCku, Inc, and Google Inc. http://t.co/EPn14Xb3uW
The Cardiac Kid
27 May 15 08:26:23
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/oXYrv6jBmp, Inc, and Google Inc. http://t.co/RR4VQb3lsk
Peter Rumble
27 May 15 08:26:22
$BOJA $AKBA $AAPL look very bullish here, worth taking long positions $SPY
Bacon
27 May 15 08:26:17
@cnbc can you tell me what Greece has to do with anything? Why does a deal with Greece move shares in $AAPL? Been like this since 2008.LOL
Sergio Gambarelli
27 May 15 08:26:17
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/9G5cQuLj3T, Inc, and Google Inc. http://t.co/oO3nieKdP6
Solo traders
27 May 15 08:26:14
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/xGDO51o29H, Inc, and Google Inc. http://t.co/vfEpm5hlnV
john smith
27 May 15 08:26:11
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/3twB5IZJTj, Inc, and Google Inc. http://t.co/c2Vn4uqgoj
Live Stock News
27 May 15 08:26:07
$AAPL - Stocks To Buy For 10 Years: Facebook Inc, http://t.co/EGZlQ5bw5W, Inc, and Google Inc. http://t.co/ol85gOFxvB
Ashutosh Mishra
27 May 15 08:25:42
RT @ericjackson: Since the iPhone was introduced on January 9, 2007, $AAPL's stock price is up 10x. $BBRY is down 93%.
Carlos Mario  Suarez
27 May 15 08:25:16
Venta Límite de 7 Acciones a 134.57 en $AAPL con un PT en 123 y con un SL en 138 vía @TTtradertwit... http://t.co/pAc5nNRmV8
FI Trading Apple
27 May 15 08:25:09
Alibaba Group Holding and Facebook Inc. Brands Are Gaining On Apple $AAPL #aapl #News #Apple http://t.co/ozPCoBzVdh http://t.co/R8vIzTKNBR
Apple News Outlet
27 May 15 08:25:03
RT @LearnBonds: Is Apple Inc. Still A No Brainer Investment? $AAPL #Apple http://t.co/DwiJxSHiCk
Apple News Outlet
27 May 15 08:25:03
RT @FoolHeadlines: 4 Stocks to Watch in Wearables http://t.co/wrqYiEjarM - $AAPL
Media Sentiment
27 May 15 08:24:57
$AAPL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 242
Hereitfirst
27 May 15 08:24:42
$aapl .91 entry ! Only 3 spots left . For our ‼️LIMITED TIME OFFER ‼️Join for a one time fee of $100… https://t.co/gP1V5aTFUY
John Spatta
27 May 15 08:23:52
RT @ericjackson: Since the iPhone was introduced on January 9, 2007, $AAPL's stock price is up 10x. $BBRY is down 93%.
Hereitfirst
27 May 15 08:23:51
$AAPL http://t.co/c0offcG6d8 .91 entry ! Love Apple ! Only 3 spots left . For our ‼️LIMITED TIME… https://t.co/JyJPeu0mkD
YMCMWolfenstein
27 May 15 08:23:45
Still holding long $BABA $AAPL Dropped $JD New position short $P Still holding short $HLF $DDD
LearnBonds.com
27 May 15 08:23:19
Is Apple Inc. Still A No Brainer Investment? $AAPL #Apple http://t.co/DwiJxSHiCk
Usman zahid
27 May 15 08:22:54
RT @Bidnessetc: Apple Beats Google To Retain Top Spot As World’s Most Valuable Brand - http://t.co/wP1Odc9DYO $AAPL $GOOG http://t.co/jUCSI…
Steve
27 May 15 08:22:49
🍎⌚️- Top 7 #AppleWatch 1. Health Tracking 2. Style 3. Platform 4. Messaging 5. Health Research 6. Universal Remote 7. Signals cc: $aapl
1929
27 May 15 08:22:37
RT @Carl_C_Icahn: Good article in @Reuters by @SamuelForgione re $AAPL: http://t.co/Fwq4mYoQMj
Value Line
27 May 15 08:21:58
The dogs of the #Dow put in a strong performance in April. #stocks #DJIA $GE $CAT $PFE $MCD $KO $AAPL $T http://t.co/qz0Dn9kEok
Eric
27 May 15 08:21:46
RT @ericjackson: Since the iPhone was introduced on January 9, 2007, $AAPL's stock price is up 10x. $BBRY is down 93%.
Eric Willer
27 May 15 08:21:42
RT @ericjackson: Since the iPhone was introduced on January 9, 2007, $AAPL's stock price is up 10x. $BBRY is down 93%.
Usman zahid
27 May 15 08:20:36
RT @Bidnessetc: How Does Apple iPhone 6 Stack Up Against Sony Xperia Z3 Plus - http://t.co/0tlf0uDIP9 $AAPL $SNE http://t.co/0sdV3BniF8
Judith Hurwitz
27 May 15 08:20:26
RT @LondonIT: At $194 billion, #Apple has more cash and investments than Microsoft and Google combined. $AAPL http://t.co/ombl2svKgb
Ravi Romo
27 May 15 08:20:09
The smartphone business is booming and Samsung is being left behind in the dust http://t.co/uL79r7NGz9 $AAPL
				
				
  +Follow August 19, 2013 10:40AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN