Traders Buy Shares of Apple (AAPL) on Weakness
Traders bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Thursday. $1,251.79 million flowed into the stock on the tick-up and $1,114.87 million flowed out of the stock on the tick-down, for a money net flow of $136.92 million into the stock. Of all stocks tracked, Apple had the 5th highest net in-flow for the day. Apple traded down ($0.73) for the day and closed at $208.49
Several research firms have weighed in on AAPL. BTIG Research upgraded Apple to a “buy” rating and boosted their price target for the company from $207.00 to $235.00 in a research note on Wednesday, August 1st. Macquarie set a $214.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday, August 15th. Morgan Stanley reiterated a “buy” rating and set a $232.00 price target on shares of Apple in a research note on Wednesday, August 22nd. S&P Equity Research upped their target price on Apple to $250.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on Apple in a research note on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Apple presently has an average rating of “Hold” and a consensus price target of $224.27.
The stock has a market capitalization of $1,031.93 billion, a PE ratio of 17.17, a P/E/G ratio of 1.51 and a beta of 1.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.92 dividend on an annualized basis and a yield of 1.43%. Apple’s dividend payout ratio is currently 24.52%.
In other Apple news, insider Johny Srouji sold 14,140 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $214.98, for a total transaction of $3,039,817.20. Following the completion of the transaction, the insider now owns 68,302 shares of the company’s stock, valued at $14,683,563.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Angela J. Ahrendts sold 14,194 shares of the stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $227.96, for a total value of $3,235,664.24. Following the transaction, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at approximately $24,058,442.48. The disclosure for this sale can be found here. Insiders have sold 480,737 shares of company stock worth $107,157,170 in the last quarter. 0.08% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in AAPL. Fort L.P. acquired a new stake in shares of Apple in the second quarter valued at approximately $119,000. Delphi Private Advisors LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $120,000. Cranbrook Wealth Management LLC increased its holdings in shares of Apple by 76.1% in the second quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock valued at $129,000 after purchasing an additional 302 shares during the last quarter. CKW Financial Group increased its holdings in shares of Apple by 82.3% in the third quarter. CKW Financial Group now owns 702 shares of the iPhone maker’s stock valued at $160,000 after purchasing an additional 317 shares during the last quarter. Finally, Brand Asset Management Group Inc. acquired a new stake in shares of Apple in the second quarter valued at approximately $134,000. 58.44% of the stock is owned by institutional investors and hedge funds.
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Apple Company Profile (NASDAQ:AAPL)
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.
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