Apple (NASDAQ:AAPL) Trading Up 0.1%

Shares of Apple Inc. (NASDAQ:AAPLGet Free Report) were up 0.1% during trading on Wednesday . The stock traded as high as $221.40 and last traded at $220.51. Approximately 17,597,852 shares changed hands during trading, a decline of 73% from the average daily volume of 64,753,285 shares. The stock had previously closed at $220.27.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AAPL shares. Loop Capital lowered their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Sanford C. Bernstein increased their price objective on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. increased their target price on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Barclays reissued an “underweight” rating and issued a $164.00 target price on shares of Apple in a research note on Tuesday, June 11th. Finally, Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and increased their target price for the company from $162.00 to $188.00 in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $215.71.

Read Our Latest Stock Report on AAPL

Apple Stock Up 0.6 %

The firm has a market capitalization of $3.40 trillion, a P/E ratio of 34.46, a PEG ratio of 2.68 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The business’s fifty day moving average price is $195.26 and its two-hundred day moving average price is $185.85.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same period last year, the business earned $1.52 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.25 dividend. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 192,355 shares of company stock worth $34,771,329. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Institutional investors have recently bought and sold shares of the business. Yeomans Consulting Group Inc. purchased a new position in Apple during the 4th quarter worth approximately $1,713,000. Raleigh Capital Management Inc. raised its position in Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares during the last quarter. Headinvest LLC increased its holdings in shares of Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares in the last quarter. GLOBALT Investments LLC GA purchased a new position in shares of Apple during the 4th quarter valued at approximately $38,406,000. Finally, Barden Capital Management Inc. increased its holdings in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

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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