Apple (NASDAQ:AAPL) Trading Down 1.1%

Apple Inc. (NASDAQ:AAPL)’s stock price fell 1.1% during trading on Wednesday . The company traded as low as $213.00 and last traded at $214.29. 79,943,254 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 68,511,152 shares. The stock had previously closed at $216.67.

Analyst Ratings Changes

Several brokerages have issued reports on AAPL. Loop Capital cut their price objective on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Monness Crespi & Hardt restated a “buy” rating and set a $205.00 price objective on shares of Apple in a research note on Thursday, June 6th. Barclays reiterated an “underweight” rating and set a $164.00 target price on shares of Apple in a research note on Tuesday, June 11th. Canaccord Genuity Group raised their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group boosted their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.06.

Apple Trading Down 2.2 %

The company’s 50-day moving average is $187.25 and its 200 day moving average is $184.74. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.22 trillion, a PE ratio of 32.61, a P/E/G ratio of 2.61 and a beta of 1.25.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 6.58 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is 15.55%.

Apple announced that its board has initiated a share repurchase program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 346,270 shares of company stock worth $60,880,196. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CNB Bank boosted its stake in shares of Apple by 8.7% during the 3rd quarter. CNB Bank now owns 51,178 shares of the iPhone maker’s stock worth $8,762,000 after acquiring an additional 4,116 shares in the last quarter. Gitterman Wealth Management LLC lifted its holdings in Apple by 3.3% in the 3rd quarter. Gitterman Wealth Management LLC now owns 35,271 shares of the iPhone maker’s stock worth $6,039,000 after purchasing an additional 1,136 shares during the last quarter. Martin & Co. Inc. TN boosted its position in Apple by 2.3% during the third quarter. Martin & Co. Inc. TN now owns 55,011 shares of the iPhone maker’s stock worth $9,418,000 after purchasing an additional 1,217 shares during the period. JFS Wealth Advisors LLC grew its holdings in Apple by 7.4% during the third quarter. JFS Wealth Advisors LLC now owns 143,060 shares of the iPhone maker’s stock valued at $24,493,000 after purchasing an additional 9,882 shares during the last quarter. Finally, Orcam Financial Group bought a new position in shares of Apple in the third quarter valued at approximately $402,000. Institutional investors own 60.41% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.