Short Interest in Apple Inc. (NASDAQ:AAPL) Declines By 10.3%

Apple Inc. (NASDAQ:AAPL) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 45,510,000 shares, a decrease of 10.3% from the December 15th total of 50,750,000 shares. Based on an average trading volume of 26,330,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.0% of the company’s stock are short sold.

Several equities analysts recently issued reports on the company. Bank of America upped their price objective on Apple from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Barclays increased their price target on Apple from $224.00 to $236.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Citigroup increased their price target on Apple from $250.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Rosenblatt Securities reissued a “sell” rating and set a $150.00 price target on shares of Apple in a report on Monday, December 9th. Finally, Royal Bank of Canada increased their price target on Apple from $295.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Apple has an average rating of “Hold” and a consensus price target of $274.36.

In related news, Director Arthur D. Levinson sold 37,394 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total value of $9,639,799.26. Following the transaction, the director now directly owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Trinity Legacy Partners LLC increased its stake in Apple by 66.8% in the 2nd quarter. Trinity Legacy Partners LLC now owns 18,789 shares of the iPhone maker’s stock worth $3,776,000 after buying an additional 7,523 shares in the last quarter. Capital Bank & Trust Co increased its stake in Apple by 0.4% in the 2nd quarter. Capital Bank & Trust Co now owns 621,074 shares of the iPhone maker’s stock worth $122,994,000 after buying an additional 2,330 shares in the last quarter. Signaturefd LLC increased its stake in Apple by 5.4% in the 3rd quarter. Signaturefd LLC now owns 72,303 shares of the iPhone maker’s stock worth $16,194,000 after buying an additional 3,705 shares in the last quarter. Fiera Capital Corp increased its stake in Apple by 2.0% in the 2nd quarter. Fiera Capital Corp now owns 478,731 shares of the iPhone maker’s stock worth $94,749,000 after buying an additional 9,473 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in Apple by 16.9% in the 2nd quarter. Independent Advisor Alliance now owns 207,368 shares of the iPhone maker’s stock worth $37,831,000 after buying an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

NASDAQ:AAPL opened at $311.34 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. The firm has a market capitalization of $1,370.80 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. Apple has a one year low of $150.05 and a one year high of $317.57. The business has a fifty day moving average price of $284.56 and a 200-day moving average price of $238.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the consensus estimate of $2.84 by $0.19. The firm had revenue of $64.04 billion during the quarter, compared to analyst estimates of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. Apple’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.91 EPS. On average, equities research analysts expect that Apple will post 13.15 earnings per share for the current fiscal year.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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