Apple (NASDAQ:AAPL) Trading 1.2% Higher – Should You Buy?

Apple Inc. (NASDAQ:AAPL)’s stock price rose 1.2% during mid-day trading on Tuesday . The company traded as high as $223.46 and last traded at $223.44. Approximately 10,503,477 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 52,661,948 shares. The stock had previously closed at $220.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AAPL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Evercore ISI upped their price objective on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. 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 investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Stock Down 0.2 %

The firm has a market cap of $3.32 trillion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. 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 business has a 50-day moving average price of $231.03 and a two-hundred day moving average price of $233.35.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is currently 15.87%.

Institutional Investors Weigh In On Apple

A number of large investors have recently modified their holdings of the company. Drystone LLC purchased a new stake in Apple during the fourth quarter worth approximately $25,000. Bull Oak Capital LLC boosted its stake 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 acquiring an additional 111 shares in the last quarter. Life Planning Partners Inc purchased a new stake in shares of Apple in the 4th quarter valued at about $47,000. Conquis Financial LLC purchased a new position in Apple during the 4th quarter worth approximately $63,000. Finally, LSV Asset Management purchased a new position in Apple during the 4th quarter worth $65,000. 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.