Shares of Apple Inc. (NASDAQ:AAPL - Get Free Report) were down 0.3% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $209.54 and last traded at $211.79. Approximately 12,140,721 shares changed hands during trading, a decline of 78% from the average daily volume of 55,863,759 shares. The stock had previously closed at $212.33.
Specifically, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Wall Street Analyst Weigh In
Several brokerages have weighed in on AAPL. Maxim Group lifted their target price on Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Barclays decreased their target price on Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Citigroup reissued a "cautious" rating on shares of Apple in a report on Monday, May 5th. Finally, Raymond James dropped their price target on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.80.
Check Out Our Latest Stock Report on Apple
Apple Trading Down 1.2%
The company has a fifty day simple moving average of $206.09 and a two-hundred day simple moving average of $226.67. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company has a market capitalization of $3.12 trillion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a dividend of $0.26 per share. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. Apple's payout ratio is presently 16.20%.
Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.
Hedge Funds Weigh In On Apple
Several institutional investors and hedge funds have recently made changes to their positions in the company. Drystone LLC acquired a new position in Apple in the 4th quarter worth $25,000. ROSS JOHNSON & Associates LLC boosted its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the period. Life Planning Partners Inc acquired a new position in Apple in the 4th quarter worth $47,000. Elite Financial Inc. acquired a new position in shares of Apple during the 1st quarter worth about $58,000. Finally, Conquis Financial LLC acquired a new position in shares of Apple during the 4th quarter worth about $63,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple Company Profile
(
Get Free Report)
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.
See Also
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
