Apple Inc. (NASDAQ:AAPL - Get Free Report) shares shot up 0.3% during trading on Tuesday . The company traded as high as $211.88 and last traded at $211.49. 17,915,469 shares changed hands during trading, a decline of 68% from the average session volume of 55,976,175 shares. The stock had previously closed at $210.79.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on AAPL. Raymond James decreased their price target on shares of Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Oppenheimer downgraded Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group decreased their price objective on shares of Apple from $259.00 to $256.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wedbush lowered shares of Apple from an "outperform" rating to a "neutral" rating in a research report on Friday, May 2nd. Finally, Bank of America decreased their price target on shares of Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple has a consensus rating of "Hold" and a consensus price target of $235.80.
Get Our Latest Stock Analysis on AAPL
Apple Trading Down 0.2%
The firm's 50 day moving average is $206.60 and its 200 day moving average is $226.99. 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 $3.17 trillion, a PE ratio of 33.63, a P/E/G ratio of 2.44 and a beta of 1.27.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 12th will be issued a $0.26 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is 16.20%.
Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated Monday, May 12th. The shares were 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. The trade was a 22.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock worth $42,694,080 over the last quarter. 0.06% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. CWA Asset Management Group LLC bought a new position in Apple during the 3rd quarter valued at approximately $118,913,000. Holistic Planning LLC grew its stake in shares of Apple by 6.4% in the third quarter. Holistic Planning LLC now owns 15,052 shares of the iPhone maker's stock worth $3,507,000 after acquiring an additional 903 shares during the last quarter. First Fiduciary Investment Counsel Inc. increased its holdings in shares of Apple by 2.9% during the third quarter. First Fiduciary Investment Counsel Inc. now owns 5,561 shares of the iPhone maker's stock valued at $1,296,000 after acquiring an additional 156 shares in the last quarter. Provident Trust Co. raised its position in shares of Apple by 3.2% in the 3rd quarter. Provident Trust Co. now owns 29,700 shares of the iPhone maker's stock worth $6,920,000 after purchasing an additional 915 shares during the last quarter. Finally, Windward Capital Management Co. CA boosted its stake in Apple by 4.9% in the 3rd quarter. Windward Capital Management Co. CA now owns 1,024,219 shares of the iPhone maker's stock worth $238,643,000 after purchasing an additional 48,284 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
About Apple
(
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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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