Apple Inc. (NASDAQ:AAPL) Short Interest Update

Apple Inc. (NASDAQ:AAPLGet Free Report) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totalling 94,310,000 shares, a drop of 7.5% from the April 15th total of 101,910,000 shares. Based on an average daily trading volume, of 63,270,000 shares, the short-interest ratio is currently 1.5 days.

Insider Activity

In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

A number of institutional investors have recently added to or reduced their stakes in AAPL. Wyrmwood Management LLC lifted its position in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Christopher J. Hasenberg Inc purchased a new position in shares of Apple in the first quarter worth approximately $35,000. Fidelis Capital Partners LLC raised its position in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple during the fourth quarter valued at $39,000. Finally, Gilfoyle & Co LLC increased its holdings in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AAPL shares. Wedbush reiterated an “outperform” rating and set a $250.00 target price on shares of Apple in a research note on Monday. DZ Bank restated a “hold” rating and set a $180.00 target price on shares of Apple in a research report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Canaccord Genuity Group raised their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. Finally, Canaccord Genuity Group lifted their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $204.11.

Check Out Our Latest Analysis on AAPL

Apple Price Performance

AAPL stock opened at $187.43 on Wednesday. The firm has a 50 day moving average of $172.57 and a 200-day moving average of $182.15. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple has a 12 month low of $164.07 and a 12 month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. As a group, sell-side analysts predict that Apple will post 6.57 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.53%. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is presently 15.55%.

Apple declared that its board has approved a share buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

About Apple

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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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