Apple (NASDAQ:AAPL) Trading Down 2.8%

Apple Inc. (NASDAQ:AAPL)’s share price traded down 2.8% during trading on Monday . The company traded as low as $213.92 and last traded at $216.27. 21,938,469 shares changed hands during trading, a decline of 64% from the average session volume of 60,694,457 shares. The stock had previously closed at $222.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Maxim Group restated a “hold” rating and set a $203.00 price target on shares of Apple in a research note on Tuesday, September 10th. Oppenheimer restated an “outperform” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, September 10th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their price target for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Finally, Sanford C. Bernstein lifted their target price on Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Stock Performance

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 company has a market capitalization of $3.31 trillion, a PE ratio of 33.60, a PEG ratio of 2.62 and a beta of 1.24. The business has a 50 day simple moving average of $223.14 and a 200 day simple moving average of $198.75.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm 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%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.26 EPS. Equities research analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Apple’s payout ratio is currently 15.55%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 in the last 90 days. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple during the 1st quarter valued at about $35,000. Fidelis Capital Partners LLC grew its holdings in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple in the fourth quarter valued at approximately $39,000. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the 2nd quarter worth approximately $42,000. Finally, University of Texas Texas AM Investment Managment Co. lifted its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

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.