Apple (NASDAQ:AAPL) Trading Down 0.1% - Here's What Happened

Apple Inc. (NASDAQ:AAPL - Get Free Report)'s stock price dropped 0.1% on Friday . The stock traded as low as $227.17 and last traded at $227.26. Approximately 7,403,540 shares changed hands during trading, a decline of 87% from the average daily volume of 58,850,813 shares. The stock had previously closed at $227.48.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AAPL. Oppenheimer reaffirmed a "buy" rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Loop Capital decreased their target price on Apple from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday. Cfra lifted their price target on Apple from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Finally, New Street Research reiterated a "neutral" rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $235.51.

Apple Price Performance

The company has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.18 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company's 50 day simple moving average is $226.91 and its 200-day simple moving average is $213.51.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple's dividend payout ratio is currently 16.45%.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company's stock, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company's stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,746 shares of company stock worth $93,021,362. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apple

Large investors have recently modified their holdings of the company. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple during the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. ARK Investment Management LLC purchased a new position in Apple in the third quarter valued at about $110,000. Finally, Cordant Inc. lifted its stake in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after purchasing an additional 173 shares in the last quarter. 60.41% 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.

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