Apple (NASDAQ:AAPL) Stock Price Up 0.4% – Here’s Why

Apple Inc. (NASDAQ:AAPLGet Free Report) shares shot up 0.4% on Tuesday . The company traded as high as $223.95 and last traded at $222.95. 7,405,938 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 59,092,621 shares. The stock had previously closed at $222.01.

Analyst Ratings Changes

A number of brokerages recently weighed in on AAPL. Barclays reduced their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday. Moffett Nathanson initiated coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. TD Cowen upped their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Finally, Piper Sandler Companies reissued a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Check Out Our Latest Analysis on Apple

Apple Trading Up 0.5 %

The stock has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 36.67, a PEG ratio of 2.39 and a beta of 1.24. The company’s 50 day moving average is $227.07 and its 200 day moving average is $213.03. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.45 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 417,924 shares of company stock worth $94,142,399 in the last quarter. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Apple

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bellwether Advisors LLC boosted its stake in Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC bought a new stake in shares of Apple in the 2nd quarter valued at $876,000. WT Asset Management Ltd bought a new stake in shares of Apple in the second quarter worth about $80,057,000. TD Asset Management Inc raised its position in shares of Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after purchasing an additional 1,557,848 shares during the period. Finally, Councilmark Asset Management LLC bought a new position in shares of Apple during the 1st quarter valued at about $11,776,000. 60.41% of the stock is owned by institutional investors.

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.

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