Apple (NASDAQ:AAPL) Trading 0.1% Higher – Here’s Why

Apple Inc. (NASDAQ:AAPL)’s share price rose 0.1% during trading on Tuesday . The company traded as high as $245.18 and last traded at $244.78. Approximately 12,415,386 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 53,725,551 shares. The stock had previously closed at $244.60.

Analyst Ratings Changes

Several brokerages have recently weighed in on AAPL. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, January 31st. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Raymond James raised their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Finally, Sanford C. Bernstein boosted their price objective on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.52.

Apple Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.67 trillion, a price-to-earnings ratio of 38.80, a PEG ratio of 2.32 and a beta of 1.20. The stock’s 50-day simple moving average is $240.66 and its 200 day simple moving average is $231.94.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is currently 15.87%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Drystone LLC purchased a new position in Apple in the 4th quarter valued at approximately $25,000. Bull Oak Capital LLC boosted its holdings in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in Apple during the 2nd quarter worth $42,000. Conquis Financial LLC purchased a new stake in Apple during the 4th quarter worth about $63,000. Finally, LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at about $65,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

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.