Apple (NASDAQ:AAPL) Trading 0.7% Higher – What’s Next?

Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.7% during mid-day trading on Thursday . The stock traded as high as $226.92 and last traded at $226.59. 10,236,485 shares traded hands during trading, a decline of 83% from the average session volume of 58,564,520 shares. The stock had previously closed at $225.12.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays dropped their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Trading Up 1.5 %

The firm has a market cap of $3.45 trillion, a price-to-earnings ratio of 37.27, a PEG ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The business has a fifty day moving average of $226.84 and a two-hundred day moving average of $215.52.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing 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 stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,040 shares of company stock valued at $91,062,512. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Apple

A number of institutional investors and hedge funds have recently made changes to their positions in the company. True Link Financial Advisors LLC increased its holdings in Apple by 7.1% in the 1st quarter. True Link Financial Advisors LLC now owns 4,074 shares of the iPhone maker’s stock valued at $699,000 after purchasing an additional 269 shares in the last quarter. United Capital Management of KS Inc. increased its holdings in Apple by 2.0% in the 1st quarter. United Capital Management of KS Inc. now owns 90,808 shares of the iPhone maker’s stock valued at $15,572,000 after purchasing an additional 1,790 shares in the last quarter. Red Tortoise LLC increased its holdings in Apple by 1.5% in the 1st quarter. Red Tortoise LLC now owns 5,428 shares of the iPhone maker’s stock valued at $931,000 after purchasing an additional 79 shares in the last quarter. Meadow Creek Wealth Advisors LLC grew its stake in shares of Apple by 60.5% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 28,368 shares of the iPhone maker’s stock valued at $4,865,000 after acquiring an additional 10,691 shares in the last quarter. Finally, Wiser Wealth Management Inc grew its stake in shares of Apple by 5.2% during the first quarter. Wiser Wealth Management Inc now owns 9,549 shares of the iPhone maker’s stock valued at $1,637,000 after acquiring an additional 476 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

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.