Investors Buy Shares of Apple Inc. (AAPL) on Weakness
Traders purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Tuesday. $615.16 million flowed into the stock on the tick-up and $442.28 million flowed out of the stock on the tick-down, for a money net flow of $172.88 million into the stock. Of all equities tracked, Apple had the highest net in-flow for the day. Apple traded down ($0.82) for the day and closed at $106.00
Several analysts have weighed in on the company. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Apple in a research report on Saturday, July 9th. Barclays PLC reissued a “buy” rating on shares of Apple in a research report on Sunday, July 17th. Credit Suisse Group AG reissued a “buy” rating and issued a $150.00 price target on shares of Apple in a research report on Sunday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 price target on shares of Apple in a research report on Friday, June 3rd. Finally, Piper Jaffray Cos. reissued a “buy” rating and issued 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, six have given a hold rating, forty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $124.84.
The firm’s 50 day moving average is $104.59 and its 200-day moving average is $101.17. The firm has a market capitalization of $571.17 billion and a P/E ratio of 12.36.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. During the same quarter last year, the firm earned $1.85 EPS. The business had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post $8.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, August 4th.
In related news, insider Johny Srouji sold 9,827 shares of Apple stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $108.44, for a total value of $1,065,639.88. Following the sale, the insider now owns 116,369 shares of the company’s stock, valued at approximately $12,619,054.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction that occurred on Monday, July 18th. 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 directly owns 105,839 shares in the company, valued at approximately $10,583,900. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in AAPL. Magellan Asset Management Ltd purchased a new stake in shares of Apple during the fourth quarter worth about $745,014,000. King Luther Capital Management Corp raised its stake in shares of Apple by 0.5% in the fourth quarter. King Luther Capital Management Corp now owns 2,434,972 shares of the iPhone maker’s stock worth $256,305,000 after buying an additional 11,997 shares in the last quarter. Gyroscope Capital Management Group LLC raised its stake in shares of Apple by 2.0% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 19,000 shares of the iPhone maker’s stock worth $2,000,000 after buying an additional 371 shares in the last quarter. Airain ltd purchased a new stake in shares of Apple during the fourth quarter worth about $14,837,000. Finally, Marco Investment Management LLC raised its stake in shares of Apple by 0.5% in the fourth quarter. Marco Investment Management LLC now owns 168,300 shares of the iPhone maker’s stock worth $17,715,000 after buying an additional 827 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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