Apple (NASDAQ:AAPL) Trading Down 0.1% – Here’s What Happened

Shares of Apple Inc. (NASDAQ:AAPL) fell 0.1% during trading on Friday . The stock traded as low as $227.17 and last traded at $227.26. 7,403,540 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 58,850,813 shares. The stock had previously closed at $227.48.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $285.00 price target on shares of Apple in a report on Monday, September 9th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Friday, November 1st. Finally, Rosenblatt Securities increased their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Stock Down 0.1 %

The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $226.82 and a 200-day simple moving average of $214.03. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. On average, sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,746 shares of company stock valued at $93,021,362 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. International Assets Investment Management LLC lifted its stake in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. Swedbank AB acquired a new position in Apple during the 1st quarter valued at about $3,026,492,000. Strategic Financial Concepts LLC boosted its stake in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after buying an additional 7,067,379 shares during the period. Finally, Pathway Financial Advisers LLC raised its stake in shares of Apple by 22,870.6% during the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after buying an additional 5,566,250 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

About Apple

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.