Apple (NASDAQ:AAPL) Trading 0.4% Higher

Apple Inc. (NASDAQ:AAPL)’s share price rose 0.4% during mid-day trading on Monday . The stock traded as high as $229.13 and last traded at $229.00. Approximately 15,764,021 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 62,009,133 shares. The stock had previously closed at $228.20.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Tuesday, September 10th. KeyCorp reissued a “hold” rating and set a $247.61 price objective on shares of Apple in a report on Wednesday, August 28th. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Loop Capital raised Apple from a “hold” rating to a “buy” rating and raised their target price for the company from $170.00 to $300.00 in a report on Monday, July 15th. Finally, The Goldman Sachs Group raised their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Apple Trading Down 0.7 %

The company has a market capitalization of $3.48 trillion, a P/E ratio of 35.61, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The business has a fifty day moving average price of $222.41 and a 200 day moving average price of $200.41. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. Apple’s revenue was up 4.9% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is presently 15.55%.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Institutional investors and hedge funds have recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new stake in shares of Apple in the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC boosted its stake in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple in the fourth quarter valued at approximately $39,000. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the second quarter valued at approximately $42,000. Finally, University of Texas Texas AM Investment Managment Co. boosted its stake in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the period. Institutional investors and hedge funds 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.