Apple (NASDAQ:AAPL) Shares Up 0.5% – What’s Next?

Apple Inc. (NASDAQ:AAPL) shares were up 0.5% during mid-day trading on Thursday . The company traded as high as $222.10 and last traded at $222.65. Approximately 6,826,417 shares changed hands during trading, a decline of 87% from the average daily volume of 52,305,585 shares. The stock had previously closed at $221.53.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAPL. Moffett Nathanson restated a “sell” rating and issued a $188.00 target price (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upped their price objective on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup lifted their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. TD Cowen reissued a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Finally, Jefferies Financial Group restated an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Stock Down 2.7 %

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The firm has a 50 day simple moving average of $230.70 and a two-hundred day simple moving average of $233.26. The stock has a market cap of $3.27 trillion, a P/E ratio of 34.59, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio is presently 15.87%.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently added to or reduced their stakes in the company. Drystone LLC bought a new stake in Apple in the fourth quarter worth about $25,000. Bull Oak Capital LLC grew its stake 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 purchasing an additional 111 shares during the last quarter. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter worth approximately $47,000. Conquis Financial LLC bought a new stake in Apple during the fourth quarter worth approximately $63,000. Finally, LSV Asset Management bought a new stake in Apple during the fourth quarter worth approximately $65,000. 67.73% of the stock is currently 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.