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

Apple Inc. (NASDAQ:AAPL) rose 0.4% on Tuesday . The stock traded as high as $229.06 and last traded at $228.96. Approximately 6,450,965 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 58,377,262 shares. The stock had previously closed at $228.02.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Maxim Group upped their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Loop Capital decreased their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a report on Monday, September 9th. Finally, Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.25.

Apple Price Performance

The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.46 trillion, a PE ratio of 37.71, a P/E/G ratio of 2.20 and a beta of 1.24. The stock has a 50-day simple moving average of $227.18 and a 200 day simple moving average of $217.00.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. Equities analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock worth $91,062,512 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Apple

A number of hedge funds have recently added to or reduced their stakes in the business. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of Apple during the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC bought a new stake in shares of Apple during the 3rd quarter worth about $110,000. 60.41% of the stock is owned by institutional investors and hedge funds.

About Apple

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.