Short Interest in Apple Inc. (AAPL) Decreases By 18.7%
Apple Inc. (NASDAQ:AAPL) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 44,470,748 shares, a decline of 18.7% from the October 31st total of 54,677,311 shares. Based on an average daily volume of 38,274,381 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.8% of the company’s shares are sold short.
In other news, insider Daniel J. Riccio sold 22,381 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the sale, the insider now owns 47,043 shares of the company’s stock, valued at $5,318,681.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 16,950 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $110.03, for a total value of $1,865,008.50. Following the sale, the chief financial officer now directly owns 12,055 shares in the company, valued at approximately $1,326,411.65. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in AAPL. Penserra Capital Management LLC boosted 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 worth $103,000 after buying an additional 304 shares during the last quarter. Armbruster Capital Management Inc. raised its position in shares of Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock worth $116,000 after buying an additional 266 shares during the period. Cedar Wealth Management LLC raised its position in shares of Apple by 42.9% in the third quarter. Cedar Wealth Management LLC now owns 1,072 shares of the iPhone maker’s stock worth $121,000 after buying an additional 322 shares during the period. Weaver C. Barksdale & Associates Inc. purchased a new position in shares of Apple during the third quarter worth about $122,000. Finally, Live Your Vision LLC purchased a new position in shares of Apple during the third quarter worth about $135,000. 57.11% of the stock is currently owned by institutional investors and hedge funds.
Apple (NASDAQ:AAPL) opened at 110.52 on Thursday. Apple has a 1-year low of $89.47 and a 1-year high of $119.86. The stock has a market cap of $589.33 billion, a PE ratio of 13.30 and a beta of 1.34. The stock has a 50 day moving average price of $112.99 and a 200 day moving average price of $105.64.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.66 by $0.01. The company had revenue of $46.85 billion for the quarter, compared to the consensus estimate of $46.88 billion. Apple had a return on equity of 35.59% and a net margin of 21.19%. Apple’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the business posted $1.96 EPS. On average, analysts predict that Apple will post $9.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.57 per share. The ex-dividend date was Thursday, November 3rd. This represents a $2.28 annualized dividend and a yield of 2.06%. Apple’s dividend payout ratio (DPR) is presently 27.57%.
A number of equities analysts recently commented on AAPL shares. BMO Capital Markets reiterated an “outperform” rating and set a $140.00 target price (up previously from $116.00) on shares of Apple in a research note on Monday, September 19th. OTR Global upgraded shares of Apple to a “positive” rating in a research note on Wednesday, October 12th. Cowen and Company increased their target price on shares of Apple from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, October 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $107.00 target price on shares of Apple in a research note on Wednesday, October 26th. Finally, BTIG Research increased their target price on shares of Apple from $124.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, September 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $128.29.
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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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