Investors Buy Apple (AAPL) on Weakness
Investors purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Wednesday. $1,784.05 million flowed into the stock on the tick-up and $1,601.39 million flowed out of the stock on the tick-down, for a money net flow of $182.66 million into the stock. Of all stocks tracked, Apple had the 4th highest net in-flow for the day. Apple traded down ($3.49) for the day and closed at $159.54
Several research firms have recently commented on AAPL. Goldman Sachs Group began coverage on shares of Apple in a research report on Wednesday. They issued a “neutral” rating and a $161.00 target price for the company. ValuEngine cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub cut shares of Apple from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. BMO Capital Markets cut shares of Apple from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $162.00 to $166.00 in a research report on Wednesday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Apple in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $201.72.
The company has a market capitalization of $809,510.00, a PE ratio of 16.41, a PEG ratio of 1.23 and a beta of 1.33. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, February 9th. Apple’s payout ratio is 25.93%.
In related news, SVP Johny Srouji sold 5,760 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the completion of the sale, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eduardo H. Cue sold 65,361 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $171.60, for a total value of $11,215,947.60. The disclosure for this sale can be found here. Insiders have sold a total of 128,412 shares of company stock valued at $22,115,155 over the last three months. Corporate insiders own 0.08% of the company’s stock.
Several large investors have recently modified their holdings of AAPL. Vantage Financial Partners Ltd. Inc. acquired a new position in Apple in the 2nd quarter valued at about $400,000. Blue Sky Asset Management LLC purchased a new position in shares of Apple in the 2nd quarter valued at about $108,000. FNY Managed Accounts LLC boosted its stake in shares of Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the period. Armbruster Capital Management Inc. boosted its stake in shares of Apple by 9.4% in the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares during the period. Finally, Oak Point Wealth Management purchased a new position in shares of Apple in the 4th quarter valued at about $163,000. 60.23% of the stock is owned by hedge funds and other institutional investors.
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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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