Apple (NASDAQ:AAPL) Stock Price Down 0.1% – Here’s Why

Apple Inc. (NASDAQ:AAPL)’s share price was down 0.1% during mid-day trading on Friday . The company traded as low as $227.34 and last traded at $228.75. Approximately 6,269,650 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 60,428,090 shares. The stock had previously closed at $229.04.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAPL. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Moffett Nathanson initiated coverage on Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price target for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Down 0.7 %

The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The stock’s fifty day simple moving average is $223.62 and its 200-day simple moving average is $205.95. The stock has a market cap of $3.49 trillion, a P/E ratio of 35.39, a PEG ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. On average, research analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 in the last ninety days. 0.06% of the stock is owned by insiders.

Institutional Trading of Apple

A number of institutional investors have recently made changes to their positions in AAPL. Fidelis Capital Partners LLC raised its position in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple in the 4th quarter worth approximately $39,000. Hershey Financial Advisers LLC acquired a new stake in Apple during the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its holdings in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. grew its position in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

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.