Traders Buy Shares of Apple Inc. (AAPL) on Weakness
Investors purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Thursday. $647.15 million flowed into the stock on the tick-up and $587.59 million flowed out of the stock on the tick-down, for a money net flow of $59.56 million into the stock. Of all stocks tracked, Apple had the 11th highest net in-flow for the day. Apple traded down ($1.37) for the day and closed at $158.28
AAPL has been the topic of a number of research analyst reports. Drexel Hamilton restated a “buy” rating and issued a $202.00 price target on shares of Apple in a research note on Thursday, July 6th. Barclays PLC restated a “hold” rating and issued a $146.00 price target on shares of Apple in a research note on Monday, September 4th. Instinet restated a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 price target on shares of Apple in a research note on Monday. Finally, Morgan Stanley restated an “overweight” rating and issued a $182.00 price target on shares of Apple in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. Apple has an average rating of “Buy” and an average target price of $187.63.
The stock has a 50-day moving average of $158.37 and a 200 day moving average of $149.12. The stock has a market cap of $817.14 billion, a price-to-earnings ratio of 17.96 and a beta of 1.27.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post $9.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.59%. Apple’s payout ratio is 28.64%.
In other news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the completion of the sale, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock worth $69,008,577 in the last 90 days. Company insiders own 0.08% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AAPL. Vantage Financial Partners Ltd. Inc. purchased a new position in Apple during the second quarter worth approximately $400,000. Blue Sky Asset Management LLC purchased a new position in Apple during the second quarter worth approximately $108,000. FNY Managed Accounts LLC boosted its position in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. Hefty Wealth Partners boosted its position in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares in the last quarter. Finally, American Beacon Advisors Inc. purchased a new position in Apple during the first quarter worth approximately $117,000. Hedge funds and other institutional investors own 60.45% of the company’s stock.
Apple Company Profile
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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