Apple (NASDAQ:AAPL) Shares Down 0.1% – What’s Next?

by · The Cerbat Gem

Apple Inc. (NASDAQ:AAPL – Get Free Report)’s share price traded down 0.1% during mid-day trading on Tuesday . The stock traded as low as $232.51 and last traded at $233.24. 7,471,015 shares were traded during trading, a decline of 87% from the average session volume of 59,276,590 shares. The stock had previously closed at $233.40.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AAPL shares. Wedbush reiterated an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Tigress Financial increased their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Thursday, September 19th. Finally, Barclays reaffirmed an “underweight” rating and issued a $186.00 target price on shares of Apple in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.91.

Read Our Latest Research Report on AAPL

Apple Price Performance

The stock has a market cap of $3.58 trillion, a price-to-earnings ratio of 36.27, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a 50 day simple moving average of $227.01 and a 200-day simple moving average of $211.05. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter last year, the firm earned $1.26 EPS. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Institutional investors and hedge funds have recently modified their holdings of the company. Fidelis Capital Partners LLC raised its stake in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. Bull Oak Capital LLC raised its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc boosted its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. Finally, Access Investment Management LLC acquired a new position in shares of Apple in the first quarter valued at $140,000. 60.41% of the stock is owned by institutional investors.

About Apple

(Get Free Report)

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.

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