Apple (NASDAQ:AAPL) Trading 1.4% Higher

Apple Inc. (NASDAQ:AAPL)’s stock price shot up 1.4% during mid-day trading on Monday . The stock traded as high as $232.35 and last traded at $230.98. 11,787,462 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 61,459,406 shares. The stock had previously closed at $227.79.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. Maxim Group reiterated a “hold” rating and issued a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. Wedbush restated an “outperform” rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday. Barclays restated an “underweight” rating and set a $186.00 target price on shares of Apple in a research report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $238.76.

Apple Stock Down 2.9 %

The stock has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The business’s 50-day moving average is $222.39 and its two-hundred day moving average is $203.18.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. Equities analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’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 owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 in the last quarter. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AAPL. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Apple in the 4th quarter valued at $778,000. Alpha Financial Advisors LLC increased its stake in Apple by 86.5% during the fourth quarter. Alpha Financial Advisors LLC now owns 2,490 shares of the iPhone maker’s stock worth $479,000 after purchasing an additional 1,155 shares during the period. Concord Wealth Partners lifted its position in shares of Apple by 15.5% during the fourth quarter. Concord Wealth Partners now owns 61,641 shares of the iPhone maker’s stock worth $11,868,000 after purchasing an additional 8,264 shares in the last quarter. Orion Capital Management LLC boosted its stake in shares of Apple by 15.3% in the fourth quarter. Orion Capital Management LLC now owns 66,029 shares of the iPhone maker’s stock valued at $12,712,000 after purchasing an additional 8,766 shares during the period. Finally, Howe & Rusling Inc. grew its holdings in shares of Apple by 0.4% in the fourth quarter. Howe & Rusling Inc. now owns 145,346 shares of the iPhone maker’s stock valued at $27,983,000 after purchasing an additional 544 shares in the last quarter. Institutional investors and hedge funds 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.