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Disney CEO buys $1 million worth of Apple stock

post #1 of 17
Thread Starter 
Bob Iger, chief executive of Disney and a member of Apple's board of directors, recently purchased $1 million worth of shares in Apple, signaling he is bullish in the wake of the stock's recent losses.

Iger's purchase of $1 million worth of AAPL stock was revealed in a filing with the U.S. Securities and Exchange Commission discovered by Business Insider. The purchase comes just a week after Iger exercised a million options on Disney stock, which netted him $17.9 million.

Iger also bought $1 million worth of shares of Apple a year ago, when the stock was priced at $375. That purchase coincided with Iger joining Apple's board, for which he was also awarded more than $84,000 in stock.

The Disney CEO helped to rebuild the partnership between disney and Steve Jobs' Pixar after the two companies grew estranged under the leadership of Iger's predecessor, Michael Eisner. Jobs and Iger also worked together to bring Disney's content to iTunes, at a time when other studios hesitated to ink a deal with Apple.

Iger


Apple's stock hit a six-month low of $527.28 last week. The stock's struggles have been blamed on a variety of issues, ranging from concerns over a U.S. capital gains tax rate hike expected in 2013 to what was seen as a disappointing September quarter with sales of 14 million iPads.

One analyst made headlines this week by calling the selloff of Apple's stock "insanely insane." Brian White of Topeka Capital Markets advised investors to buy in and take advantage of Apple's low stock price.
post #2 of 17
...And why would he not do so.
if he was going to buy the stock a month ago, and waited, he just got a deal!... apple will be staying at 500 or higher!.
on the other hand, pocket change compared to the amount of stock that the Late Steve Jobs had...
post #3 of 17
Originally Posted by Nathillien View Post
So that was the Monday bump.

 

Would $1,000,000 have bumped the stock by 25 points?

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
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post #4 of 17
Seems odd this is news. I bet there are more than a few readers of this forum that have that much in Apple stock.

If he was Apple's largest indivifual shareholder the way Jobs 'is' with Disney then I could understand the news. I would be surprised if he also owned a lot of Google, Amazon and MS at some point.

Quote:
Originally Posted by Tallest Skil View Post

Would $1,000,000 have bumped the stock by 25 points?

Nope.

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"The real haunted empire?  It's the New York Times." ~SockRolid

"There is no rule that says the best phones must have the largest screen." ~RoundaboutNow

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post #5 of 17
I would guess Iger is privy to apple's stock repurchase plan, and wants to get in ahead of the next run-up.
post #6 of 17
Quote:
Originally Posted by SolipsismX View Post

Seems odd this is news. I bet there are more than a few readers of this forum that have that much in Apple stock.
 

Yeah, one million worth of AAPL is nothing, and it's merely pocket change to a guy like him.

 

I also read that he bought on Monday, an even smarter move would have been to buy on Friday.

post #7 of 17
Quote:
Originally Posted by ifij775 View Post

I would guess Iger is privy to apple's stock repurchase plan, and wants to get in ahead of the next run-up.

I would think that would trigger insider trading bells.

Quote:
Originally Posted by Tallest Skil View Post

Would $1,000,000 have bumped the stock by 25 points?

Aren't big purchases like that bought "off market" so as to not cause problems like that?
post #8 of 17
Quote:
Originally Posted by JeffDM View Post
Aren't big purchases like that bought "off market" so as to not cause problems like that?

One million dollars worth of AAPL bought at around 540 is only about 1850 shares. That's nothing, and there's no way that it has any effect at all.

 

Now, buying one million shares of AAPL might be a different story, and when huge hedge funds move in and make big moves, they can affect the price. But I don't think that 1850 shares of AAPL has any effect at all.

post #9 of 17
Quote:
Originally Posted by JeffDM View Post


I would think that would trigger insider trading bells.
Aren't big purchases like that bought "off market" so as to not cause problems like that?

Insiders buy shares all of the time and have inside information about the company. He is on the board of directors. The SEC has specific guidelines for executives, but that doesn't mean they have to buy high and sell low.

post #10 of 17

That's a weird photo.

 

It makes it look as though Disney is run by a cartoon character ...

post #11 of 17
Quote:
Originally Posted by "Apple 
[" url="/t/154522/disney-ceo-buys-1-million-worth-of-apple-stock#post_2235881"]One million dollars worth of AAPL bought at around 540 is only about 1850 shares. That's nothing, and there's no way that it has any effect at all.

Now, buying one million shares of AAPL might be a different story, and when huge hedge funds move in and make big moves, they can affect the price. But I don't think that 1850 shares of AAPL has any effect at all.

1850 shares isn't even a blip.
na na na na na...
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na na na na na...
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post #12 of 17
Quote:
Originally Posted by island hermit View Post


1850 shares isn't even a blip.

Yeah, if it did have any effect, then just a few of us on this forum could band together and manipulate AAPL. lol.gif

post #13 of 17
Quote:
Originally Posted by Tallest Skil View Post

Would $1,000,000 have bumped the stock by 25 points?

No but people know that someone bought $1,000,000 in stock and many follow suit.
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"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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post #14 of 17
Quote:
Originally Posted by igriv View Post

 
True, but $1MM for Iger is chump change, so this is not that enthusiastic a vote of confidence. Plus, he bought at $565, so at the close on Monday.
 

They wouldn't know who purchased it. For most people $1M isn't a amount to sneeze at.
"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
Reply
"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
Reply
post #15 of 17
Would $1,000,000 have bumped the stock by 25 points?


Friday volume was 2x average at 50 millions shares for a total of 25 billions. So that million was a drop in the bucket. Btw on friday at the low mutual funds and pension funds bought large volume of shares. They had there bid sitting there in case. That scare the hell out of the hedge funds, the brokers saw that then covered and the stock made a nice oversold V pattern.
Edited by herbapou - 11/21/12 at 5:08pm
post #16 of 17
Originally Posted by Nathillien View Post
Did you ever heard of avalanche?


Heard of yodeling. That's close.

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply

Originally posted by Marvin

Even if [the 5.5” iPhone exists], it doesn’t deserve to.
Reply
post #17 of 17
AAPL has traded an average of 22,950,000 shares a day over the last 30 days (according to Google finance). 1,850 shares is not even a rounding error. ;-)
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