Investors Buy Apple Inc. (AAPL) on Weakness
Investors bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Monday. $564.59 million flowed into the stock on the tick-up and $415.81 million flowed out of the stock on the tick-down, for a money net flow of $148.78 million into the stock. Of all stocks tracked, Apple had the highest net in-flow for the day. Apple traded down ($0.85) for the day and closed at $108.51
Several equities research analysts recently weighed in on the stock. FBN Securities reduced their price target on shares of Apple from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. Credit Suisse Group AG downgraded shares of Apple to a “buy” rating in a research report on Wednesday, April 27th. Bank of America Corp. set a $120.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Thursday, April 28th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Apple in a research report on Monday, May 2nd. Finally, Piper Jaffray Cos. reissued a “buy” rating and set a $153.00 price target on shares of Apple in a research report on Sunday, May 22nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $126.21.
The firm’s 50-day moving average price is $102.89 and its 200 day moving average price is $100.61. The firm has a market capitalization of $584.70 billion and a PE ratio of 12.65.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. During the same quarter last year, the company earned $1.85 earnings per share. The company earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. The business’s revenue was down 14.6% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post $8.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, August 4th.
In other Apple news, SVP Angela J. Ahrendts sold 50,000 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $100.00, for a total value of $5,000,000.00. Following the sale, the senior vice president now directly owns 147,971 shares in the company, valued at $14,797,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the senior vice president now owns 97,971 shares in the company, valued at $9,797,100. The disclosure for this sale can be found here.
A number of hedge funds recently made changes to their positions in the stock. Vaughan David Investments Inc. IL boosted its stake in shares of Apple by 4.9% in the fourth quarter. Vaughan David Investments Inc. IL now owns 10,241 shares of the iPhone maker’s stock worth $1,078,000 after buying an additional 474 shares during the period. Eidelman Virant Capital raised its position in Apple by 139.9% in the fourth quarter. Eidelman Virant Capital now owns 13,198 shares of the iPhone maker’s stock worth $1,389,000 after buying an additional 7,696 shares in the last quarter. Morningstar Investment Services LLC raised its position in Apple by 40.0% in the fourth quarter. Morningstar Investment Services LLC now owns 14,494 shares of the iPhone maker’s stock worth $1,526,000 after buying an additional 4,141 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC raised its position in Apple by 3.6% in the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 16,033 shares of the iPhone maker’s stock worth $1,688,000 after buying an additional 560 shares in the last quarter. Finally, Genesee Valley Trust Co. raised its position in Apple by 5.5% in the fourth quarter. Genesee Valley Trust Co. now owns 17,223 shares of the iPhone maker’s stock worth $1,813,000 after buying an additional 898 shares in the last quarter.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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