Apple (NASDAQ:AAPL) Shares Down 0.1% – What’s Next?

Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.1% during trading on Thursday . The stock traded as low as $230.52 and last traded at $231.51. 9,379,059 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 60,085,719 shares. The stock had previously closed at $231.78.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. TD Cowen boosted their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wedbush reissued an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Down 0.1 %

The firm has a market cap of $3.55 trillion, a P/E ratio of 36.03, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $225.03 and a 200-day moving average price of $207.22.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, equities analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

A number of institutional investors have recently made changes to their positions in the business. M3 Advisory Group LLC purchased a new stake in Apple during the 4th quarter worth approximately $2,339,000. Accent Capital Management LLC purchased a new stake in shares of Apple during the fourth quarter valued at $19,428,000. Warren Street Wealth Advisors LLC increased its position in shares of Apple by 10.3% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 16,665 shares of the iPhone maker’s stock valued at $3,208,000 after acquiring an additional 1,557 shares during the period. Financial Life Advisors purchased a new position in Apple in the 4th quarter worth $212,000. Finally, Cooksen Wealth LLC acquired a new stake in Apple during the 4th quarter worth about $706,000. 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.