Apple (NASDAQ:AAPL) Trading Up 0.3%

Apple Inc. (NASDAQ:AAPL)’s stock price rose 0.3% during mid-day trading on Wednesday . The company traded as high as $170.65 and last traded at $169.95. Approximately 12,614,839 shares changed hands during trading, a decline of 79% from the average daily volume of 60,829,035 shares. The stock had previously closed at $169.38.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. Citigroup restated a “buy” rating and set a $225.00 target price on shares of Apple in a research report on Friday, February 16th. Monness Crespi & Hardt increased their target price on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Piper Sandler Companies lowered shares of Apple to a “neutral” rating and decreased their target price for the stock from $220.00 to $205.00 in a research report on Thursday, January 4th. Maxim Group initiated coverage on shares of Apple in a research report on Wednesday. They set a “hold” rating and a $178.00 target price on the stock. Finally, Robert W. Baird increased their target price on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.34.

Apple Stock Down 0.6 %

The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.58 trillion, a PE ratio of 26.02, a P/E/G ratio of 2.03 and a beta of 1.27. The stock has a 50-day moving average of $175.15 and a 200-day moving average of $182.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. During the same quarter last year, the business posted $1.88 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. Apple’s dividend payout ratio is presently 14.95%.

Insider Activity at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 over the last 90 days. 0.06% of the stock is owned by insiders.

Institutional Trading of Apple

Large investors have recently modified their holdings of the business. Wyrmwood Management LLC lifted its holdings in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the period. Atlantic Private Wealth LLC purchased a new stake in Apple in the first quarter worth about $30,000. Gilfoyle & Co LLC lifted its holdings in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple in the fourth quarter worth about $39,000. Finally, Cheyne Capital Management UK LLP lifted its holdings in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after buying an additional 550 shares during the period. 60.41% of the stock is owned by institutional investors.

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.