Apple (NASDAQ:AAPL) Shares Down 0.1% – What’s Next?

Apple Inc. (NASDAQ:AAPL)’s share price dropped 0.1% during trading on Thursday . The stock traded as low as $230.52 and last traded at $231.51. Approximately 9,379,059 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 60,085,719 shares. The stock had previously closed at $231.78.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. New Street Research restated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. TD Cowen lifted their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. KeyCorp reissued a “hold” rating and set a $247.61 price objective on shares of Apple in a research note on Wednesday, August 28th. Finally, Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Trading Down 0.1 %

The stock has a 50-day moving average of $225.03 and a two-hundred day moving average of $207.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market cap of $3.55 trillion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating 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 the consensus estimate of $84.43 billion. During the same period last year, the business posted $1.26 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid 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 0.43%. Apple’s dividend payout ratio is 15.55%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction 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 $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Swedbank AB purchased a new stake in shares of Apple in the first quarter worth $3,026,492,000. Global Assets Advisory LLC lifted its holdings in Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after purchasing an additional 9,200,345 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after buying an additional 5,405,542 shares during the last quarter. Institutional investors 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.