Apple Inc. (AAPL) Sees Large Decline in Short Interest
Apple Inc. (NASDAQ:AAPL) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 47,083,129 shares, a decrease of 9.0% from the August 15th total of 51,758,571 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 25,803,531 shares, the short-interest ratio is presently 1.8 days.
In related news, CEO Timothy D. Cook sold 334,000 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $35,814,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the sale, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at $10,583,900. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Several large investors have recently bought and sold shares of AAPL. Penserra Capital Management LLC raised its stake in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock valued at $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC raised its stake in Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock valued at $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Apple during the second quarter valued at about $143,000. River & Mercantile Asset Management LLP raised its stake in Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 334 shares during the last quarter. Finally, Roble Belko & Company Inc raised its stake in Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 680 shares during the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.
AAPL has been the subject of several recent analyst reports. Morgan Stanley set a $120.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, May 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Apple in a report on Wednesday, May 25th. B. Riley reaffirmed a “buy” rating on shares of Apple in a report on Thursday, May 26th. OTR Global reaffirmed a “sell” rating and set a $90.00 price objective on shares of Apple in a report on Friday, May 27th. Finally, XYZ Research initiated coverage on shares of Apple in a report on Sunday, May 29th. They set a “buy” rating and a $110.00 price objective for the company. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus target price of $126.34.
Shares of Apple (NASDAQ:AAPL) opened at 113.55 on Thursday. The company has a market capitalization of $611.86 billion, a price-to-earnings ratio of 13.24 and a beta of 1.14. Apple has a 52-week low of $89.47 and a 52-week high of $123.82. The company’s 50 day moving average price is $108.61 and its 200 day moving average price is $102.39.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The company earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. During the same period in the prior year, the company earned $1.85 earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. On average, analysts predict that Apple will post $8.26 EPS for the current year.
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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