Apple Inc. (NASDAQ:AAPL - Get Free Report)'s stock price was down 1.6% on Wednesday . The stock traded as low as $308.85 and last traded at $310.26. Approximately 49,846,444 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 47,251,555 shares. The stock had previously closed at $315.20.
More Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Goldman Sachs reaffirmed a Buy rating and a $340 price target, citing Apple’s AI roadmap and durable ecosystem strength as support for further upside.
- Positive Sentiment: Evercore ISI raised its price target to $365, and other bullish notes point to AI and services growth as key drivers heading into WWDC.
- Positive Sentiment: Investors are hoping WWDC will showcase a rebuilt AI-powered Siri and other features that could deepen user engagement, support services growth, and help extend the stock’s recent rally.
- Positive Sentiment: Reports about a native bill-splitting feature in iOS and broader Wallet upgrades suggest Apple could strengthen its payments and services ecosystem, potentially pressuring rivals like Venmo.
- Neutral Sentiment: UBS reiterated a Neutral rating and a $296 target, saying the WWDC event may not deliver major fireworks for the stock.
- Neutral Sentiment: Analyst and media coverage also highlighted that Apple’s valuation is looking stretched after the recent run-up, which may limit near-term upside if WWDC disappoints.
- Negative Sentiment: Reuters reported Apple agreed to submit India business financials in an antitrust case, moving the long-running investigation closer to a possible penalty decision.
- Negative Sentiment: Some commentary suggested NVIDIA’s AI PC push could increase competition for Apple’s Mac lineup, even though many analysts still believe Apple’s ecosystem remains resilient.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on AAPL shares. Stifel Nicolaus set a $330.00 price objective on shares of Apple in a research report on Monday, March 2nd. Rosenblatt Securities raised their price objective on Apple from $268.00 to $276.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research report on Wednesday, March 4th. DA Davidson reiterated a "neutral" rating and set a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Finally, Barclays reissued an "underweight" rating and set a $253.00 price objective (up from $248.00) on shares of Apple in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $310.31.
Check Out Our Latest Report on Apple
Apple Price Performance
The stock has a market cap of $4.56 trillion, a P/E ratio of 37.52, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The business's 50-day simple moving average is $276.58 and its two-hundred day simple moving average is $270.28.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. The company's quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 8.74 EPS for the current year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio (DPR) is presently 13.06%.
Insider Transactions at Apple
In related news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 over the last quarter. 0.06% of the stock is owned by company insiders.
Hedge Funds Weigh In On Apple
Large investors have recently bought and sold shares of the stock. Overbrook Management Corp grew its stake in Apple by 57.4% during the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock valued at $28,449,000 after acquiring an additional 38,174 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Apple by 48.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,426,605 shares of the iPhone maker's stock valued at $363,256,000 after acquiring an additional 465,393 shares during the last quarter. Tufton Capital Management grew its holdings in shares of Apple by 4.3% in the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock valued at $25,496,000 after purchasing an additional 4,157 shares during the period. Torren Management LLC purchased a new stake in shares of Apple in the fourth quarter valued at about $1,178,000. Finally, KBC Group NV increased its position in Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock worth $1,915,172,000 after purchasing an additional 214,215 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
About Apple
(
Get Free Report)
Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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