Apple (NASDAQ:AAPL) Shares Down 0% - Here's Why

Apple Inc. (NASDAQ:AAPL - Get Free Report)'s share price was down 0% during mid-day trading on Tuesday . The stock traded as low as $236.34 and last traded at $238.03. Approximately 15,270,535 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 53,722,678 shares. The stock had previously closed at $238.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AAPL shares. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Wednesday, February 19th. Needham & Company LLC reissued a "buy" rating and issued a $260.00 target price on shares of Apple in a report on Friday, January 31st. Oppenheimer lowered shares of Apple from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Morgan Stanley set a $275.00 target price on shares of Apple in a report on Tuesday, February 11th. Finally, Jefferies Financial Group reissued an "underperform" rating on shares of Apple in a report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $243.88.

Apple Stock Performance

The firm has a market capitalization of $3.54 trillion, a P/E ratio of 37.42, a P/E/G ratio of 2.44 and a beta of 1.20. The firm has a 50-day moving average price of $238.36 and a two-hundred day moving average price of $233.93. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, February 10th. Apple's dividend payout ratio (DPR) is 15.87%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company's stock.

Institutional Trading of Apple

Several large investors have recently made changes to their positions in AAPL. Drystone LLC purchased a new stake in shares of Apple during the fourth quarter worth approximately $25,000. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter valued at $42,000. Life Planning Partners Inc purchased a new stake in Apple in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC purchased a new stake in Apple in the 4th quarter valued at $63,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.