Apple (NASDAQ:AAPL) Trading Up 1.3% – Here’s What Happened

Apple Inc. (NASDAQ:AAPL) shares were up 1.3% during trading on Thursday . The company traded as high as $226.55 and last traded at $225.52. Approximately 10,980,298 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 58,944,750 shares. The stock had previously closed at $222.72.

Analyst Ratings Changes

Several research firms have recently weighed in on AAPL. Barclays cut their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. The Goldman Sachs Group raised their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird upped their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Trading Down 0.1 %

The firm has a market capitalization of $3.43 trillion, a PE ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The business has a fifty day moving average price of $226.82 and a two-hundred day moving average price of $214.03. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock worth $93,021,362 over the last three months. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Institutional investors have recently modified their holdings of the business. Fidelis Capital Partners LLC grew its holdings in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. Bull Oak Capital LLC grew its position in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc raised its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple in the 3rd quarter worth $110,000. 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.