Apple (NASDAQ:AAPL) Stock Price Down 3.4%

Apple Inc. (NASDAQ:AAPL - Get Free Report) shares were down 3.4% during mid-day trading on Tuesday . The company traded as low as $224.53 and last traded at $225.17. Approximately 20,721,217 shares changed hands during trading, a decline of 66% from the average daily volume of 61,471,402 shares. The stock had previously closed at $233.00.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Apple from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. UBS Group increased their price objective on shares of Apple from $190.00 to $236.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Melius Research reiterated a "buy" rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Loop Capital raised Apple from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $260.00 target price on shares of Apple in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $238.76.

Apple Stock Down 2.9 %

The company has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.66 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The business's 50 day moving average is $222.39 and its 200 day moving average is $203.18.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm's revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple's dividend payout ratio is currently 15.55%.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 100,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company's stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company's stock, valued at $3,469,275. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by company insiders.

Institutional Trading of Apple

A number of hedge funds have recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in Apple during the first quarter worth $35,000. Fidelis Capital Partners LLC boosted its holdings in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker's stock worth $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple during the fourth quarter worth approximately $39,000. Hershey Financial Advisers LLC acquired a new position in Apple in the 2nd quarter valued at $42,000. Finally, University of Texas Texas AM Investment Managment Co. lifted its holdings in Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker's stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. 60.41% of the stock is 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.