Apple (NASDAQ:AAPL) Stock Price Down 0.1% - What's Next?

Apple Inc. (NASDAQ:AAPL - Get Free Report)'s stock price fell 0.1% on Thursday . The stock traded as low as $230.52 and last traded at $231.51. 9,379,059 shares traded hands during trading, a decline of 84% from the average session volume of 60,085,719 shares. The stock had previously closed at $231.78.

Analysts Set New Price Targets

Several research firms have weighed in on AAPL. Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and raised their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Monness Crespi & Hardt reiterated a "buy" rating and set a $245.00 price target on shares of Apple in a report on Monday, September 9th. KeyCorp reiterated a "hold" rating and set a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. Melius Research reiterated a "buy" rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Finally, Oppenheimer reiterated a "buy" rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.27.

Apple Trading Up 0.2 %

The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The business's 50 day moving average is $225.41 and its 200-day moving average is $207.39. The firm has a market cap of $3.56 trillion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. As a group, analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 dividend yield of 0.43%. Apple's dividend payout ratio (DPR) is presently 15.55%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was 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 this link. In other Apple news, insider Chris Kondo sold 5,178 shares of the business's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 owns 3,280,180 shares of the company's stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company's stock.

Institutional Trading of Apple

Institutional investors have recently added to or reduced their stakes in the business. Strategic Advocates LLC grew its position in shares of Apple by 11.5% during the third quarter. Strategic Advocates LLC now owns 35,351 shares of the iPhone maker's stock worth $8,237,000 after acquiring an additional 3,659 shares during the last quarter. OmniStar Financial Group Inc. grew its position in shares of Apple by 16.3% during the third quarter. OmniStar Financial Group Inc. now owns 20,841 shares of the iPhone maker's stock worth $4,857,000 after acquiring an additional 2,925 shares during the last quarter. Inspire Advisors LLC grew its position in shares of Apple by 8.0% during the third quarter. Inspire Advisors LLC now owns 14,979 shares of the iPhone maker's stock worth $3,490,000 after acquiring an additional 1,112 shares during the last quarter. Intergy Private Wealth LLC grew its position in shares of Apple by 4.3% during the third quarter. Intergy Private Wealth LLC now owns 13,655 shares of the iPhone maker's stock worth $3,182,000 after acquiring an additional 568 shares during the last quarter. Finally, Trust Point Inc. grew its position in shares of Apple by 0.5% during the third quarter. Trust Point Inc. now owns 122,232 shares of the iPhone maker's stock worth $28,480,000 after acquiring an additional 605 shares during the last quarter. Institutional investors own 60.41% of the company's stock.

Apple Company Profile

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.