Apple (NASDAQ:AAPL) Shares Down 5.5% – Here’s Why

Apple Inc. (NASDAQ:AAPL) shares traded down 5.5% during mid-day trading on Monday . The stock traded as low as $226.56 and last traded at $225.87. 19,891,353 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 53,126,071 shares. The stock had previously closed at $239.07.

Wall Street Analyst Weigh In

Several research firms have issued reports on AAPL. Rosenblatt Securities restated a “buy” rating and set a $262.00 price target on shares of Apple in a research report on Monday, January 27th. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Maxim Group increased their price objective on Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Finally, Barclays lifted their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $243.88.

Apple Stock Performance

The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50 day moving average price of $237.56 and a 200 day moving average price of $234.14. The stock has a market capitalization of $3.41 trillion, a PE ratio of 36.08, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apple

Several institutional investors have recently modified their holdings of the business. Legacy Financial Advisors Inc. grew its holdings in shares of Apple by 2.6% in the second quarter. Legacy Financial Advisors Inc. now owns 75,663 shares of the iPhone maker’s stock worth $15,936,000 after acquiring an additional 1,929 shares during the period. Libra Wealth LLC grew its stake in shares of Apple by 3.7% during the 2nd quarter. Libra Wealth LLC now owns 27,809 shares of the iPhone maker’s stock valued at $5,857,000 after purchasing an additional 1,001 shares during the period. Alaethes Wealth LLC increased its position in shares of Apple by 1.5% during the 2nd quarter. Alaethes Wealth LLC now owns 56,861 shares of the iPhone maker’s stock valued at $11,976,000 after purchasing an additional 813 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Apple by 3.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 240,962 shares of the iPhone maker’s stock worth $50,752,000 after purchasing an additional 7,479 shares during the period. Finally, Symmetry Investments LP boosted its holdings in shares of Apple by 324.0% in the second quarter. Symmetry Investments LP now owns 100,695 shares of the iPhone maker’s stock worth $21,208,000 after buying an additional 76,945 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other 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.