Apple (NASDAQ:AAPL) Trading 0.4% Higher

Apple Inc. (NASDAQ:AAPL)’s stock price traded up 0.4% during mid-day trading on Monday . The company traded as high as $229.13 and last traded at $229.00. 15,764,021 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 62,009,133 shares. The stock had previously closed at $228.20.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Sanford C. Bernstein boosted their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Raymond James boosted their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, September 5th. Wedbush restated an “outperform” rating and issued a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Robert W. Baird lifted their target price on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Trading Down 0.7 %

The business’s 50-day moving average is $222.41 and its two-hundred day moving average is $200.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a market capitalization of $3.48 trillion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released 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 during 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 in the previous year, the company posted $1.26 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 in the last 90 days. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apple

Institutional investors have recently made changes to their positions in the business. Yeomans Consulting Group Inc. acquired a new stake in shares of Apple during the 4th quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. lifted its holdings in shares of Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after buying an additional 1,643 shares during the period. GLOBALT Investments LLC GA purchased a new stake in shares of Apple during the fourth quarter valued at $38,406,000. Barden Capital Management Inc. lifted its holdings in shares of Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC purchased a new stake in shares of Apple during the fourth quarter valued at $4,782,000. 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.