Apple Inc. (NASDAQ:AAPL - Get Free Report)'s stock price fell 1.4% on Wednesday . The company traded as low as $229.84 and last traded at $230.49. 12,201,508 shares were traded during mid-day trading, a decline of 80% from the average session volume of 60,223,656 shares. The stock had previously closed at $233.85.
Analysts Set New Price Targets
AAPL has been the topic of a number of analyst reports. New Street Research reissued a "neutral" rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Sanford C. Bernstein lifted their price target on shares of Apple from $195.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, June 21st. The Goldman Sachs Group boosted their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Morgan Stanley reiterated an "overweight" rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $260.00 target price on shares of Apple in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $239.27.
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Apple Trading Down 0.9 %
The company's 50-day moving average is $224.59 and its 200-day moving average is $207.04. 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 firm has a market cap of $3.55 trillion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 2.40 and a beta of 1.24.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. On average, research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple's payout ratio is presently 15.55%.
Insider Buying and Selling at Apple
In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the business'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 completion of the transaction, the senior vice president now owns 191,543 shares of the company's stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company's stock.
Hedge Funds Weigh In On Apple
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker's stock worth $253,766,929,000 after buying an additional 18,067,216 shares in the last quarter. Swedbank AB bought a new position in shares of Apple during the 1st quarter worth approximately $3,026,492,000. Global Assets Advisory LLC raised its holdings in shares of Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker's stock valued at $1,584,512,000 after purchasing an additional 9,200,345 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker's stock worth $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker's stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.
Apple Company Profile
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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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