Investors Buy Shares of Apple Inc. (AAPL) on Weakness
Investors purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Friday. $1,061.02 million flowed into the stock on the tick-up and $662.45 million flowed out of the stock on the tick-down, for a money net flow of $398.57 million into the stock. Of all companies tracked, Apple had the 3rd highest net in-flow for the day. Apple traded down ($0.58) for the day and closed at $174.67
A number of research firms have recently weighed in on AAPL. BMO Capital Markets reiterated an “outperform” rating and set a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Barclays PLC reiterated a “hold” rating and set a $146.00 target price on shares of Apple in a report on Tuesday, August 15th. Vetr upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $166.96 target price for the company in a report on Thursday, August 17th. J P Morgan Chase & Co set a $165.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, July 19th. Finally, Citigroup Inc. set a $170.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $199.14.
The stock has a market cap of $896,810.25, a PE ratio of 18.99, a P/E/G ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $1.50 earnings per share. equities research analysts expect that Apple Inc. will post 11.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s payout ratio is 27.39%.
In other Apple news, insider Chris Kondo sold 6,209 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $161.96, for a total transaction of $1,005,609.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Johny Srouji sold 10,469 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares in the company, valued at $12,367,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 411,389 shares of company stock worth $65,364,467. Insiders own 0.08% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Sky Asset Management LLC purchased a new position in shares of Apple in the second quarter worth about $108,000. Hefty Wealth Partners lifted its stake in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares in the last quarter. FNY Managed Accounts LLC lifted its stake in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in shares of Apple in the first quarter worth about $117,000. Finally, Private Vista LLC purchased a new position in shares of Apple in the second quarter worth about $122,000. 60.30% of the stock is currently owned by institutional investors and hedge funds.
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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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