Apple Inc. (NASDAQ:AAPL) was the target of a large decrease in short interest during the month of September. As of September 28th, there was short interest totalling 40,204,115 shares, a decrease of 14.1% from the September 14th total of 46,818,683 shares. Based on an average daily volume of 34,804,592 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.8% of the shares of the stock are short sold.

Several brokerages recently issued reports on AAPL. Wells Fargo & Co set a $210.00 price target on shares of Apple and gave the stock a “neutral” rating in a research report on Monday, October 1st. Oppenheimer reiterated a “neutral” rating on shares of Apple in a research report on Monday, October 1st. Morgan Stanley reiterated a “buy” rating and set a $245.00 price target (up previously from $232.00) on shares of Apple in a research report on Wednesday, September 5th. DA Davidson reiterated a “buy” rating and set a $265.00 price target (up previously from $230.00) on shares of Apple in a research report on Wednesday, September 5th. Finally, DZ Bank reiterated a “buy” rating on shares of Apple in a research report on Monday, September 3rd. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $221.63.

Apple stock opened at $222.11 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. Apple has a 1 year low of $150.24 and a 1 year high of $233.47. The stock has a market cap of $1,109.54 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.16. The business had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. Apple’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. On average, analysts forecast that Apple will post 11.76 earnings per share for the current year.

In related news, insider Johny Srouji sold 14,140 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $214.98, for a total transaction of $3,039,817.20. Following the transaction, the insider now owns 68,302 shares in the company, valued at approximately $14,683,563.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of the company’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the transaction, the senior vice president now owns 105,538 shares in the company, valued at approximately $24,058,442.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,185 shares of company stock worth $124,444,213. 0.06% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Fort L.P. acquired a new stake in shares of Apple in the 2nd quarter valued at approximately $119,000. Delphi Private Advisors LLC bought a new stake in Apple during the 2nd quarter worth approximately $120,000. Cranbrook Wealth Management LLC increased its stake in Apple by 76.1% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock worth $129,000 after purchasing an additional 302 shares in the last quarter. Brand Asset Management Group Inc. bought a new stake in Apple during the 2nd quarter worth approximately $134,000. Finally, Quattro Financial Advisors LLC bought a new stake in Apple during the 1st quarter worth approximately $133,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Read More: Price to Earnings Ratio (PE)

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