Apple Inc. (NASDAQ:AAPL - Get Free Report) shares were down 1.9% during trading on Wednesday . The company traded as low as $230.52 and last traded at $231.46. Approximately 13,263,797 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 53,592,788 shares. The stock had previously closed at $235.93.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. TD Cowen reaffirmed a "buy" rating on shares of Apple in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on shares of Apple to $275.00 and gave the company a "buy" rating in a report on Monday, December 9th. Maxim Group increased their price objective on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Monness Crespi & Hardt lifted their target price on shares of Apple to $245.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Finally, Oppenheimer lowered Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $243.88.
Read Our Latest Research Report on Apple
Apple Price Performance
The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.53 trillion, a PE ratio of 37.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. The stock's 50-day moving average is $238.81 and its two-hundred day moving average is $233.92.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple's payout ratio is currently 15.87%.
Insider Buying and Selling at Apple
In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction 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 transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Drystone LLC bought a new position in Apple in the fourth quarter worth approximately $25,000. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% in the 3rd 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 shares of Apple during the 2nd quarter worth $42,000. Life Planning Partners Inc bought a new stake in Apple during the fourth quarter valued at about $47,000. Finally, Conquis Financial LLC bought a new stake in Apple during the fourth quarter valued at about $63,000. 67.73% of the stock is currently owned by institutional investors.
About Apple
(
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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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