Apple (NASDAQ:AAPL) Trading Down 0% – Here’s Why

Apple Inc. (NASDAQ:AAPL)’s stock price was down 0% on Wednesday . The stock traded as low as $222.84 and last traded at $223.65. Approximately 9,755,731 shares traded hands during trading, a decline of 81% from the average daily volume of 52,395,983 shares. The stock had previously closed at $223.75.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AAPL shares. Barclays upped their price target 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. Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research note on Tuesday, January 21st. Raymond James raised their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, Sanford C. Bernstein increased their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Stock Down 0.3 %

The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a 50 day simple moving average of $231.35 and a two-hundred day simple moving average of $233.43. The firm has a market capitalization of $3.35 trillion, a P/E ratio of 35.37, a P/E/G ratio of 2.44 and a beta of 1.18.

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

Apple Dividend Announcement

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

Institutional Investors Weigh In On Apple

Hedge funds have recently made changes to their positions in the company. Drystone LLC purchased a new position in shares of Apple in the fourth quarter valued at $25,000. Bull Oak Capital LLC lifted its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Conquis Financial LLC bought a new position in shares of Apple in the 4th quarter valued at about $63,000. LSV Asset Management purchased a new position in Apple in the fourth quarter worth about $65,000. Finally, SPX Gestao de Recursos Ltda bought a new stake in Apple during the third quarter worth approximately $71,000. 67.73% of the stock is currently 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.