Investors Buy Shares of Apple (AAPL) on Weakness

Investors purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Friday. $1,811.52 million flowed into the stock on the tick-up and $719.10 million flowed out of the stock on the tick-down, for a money net flow of $1,092.42 million into the stock. Of all equities tracked, Apple had the highest net in-flow for the day. Apple traded down ($0.80) for the day and closed at $178.46

A number of research firms have recently commented on AAPL. Mizuho restated a “neutral” rating and issued a $175.00 price target (up from $160.00) on shares of Apple in a report on Friday. Zacks Investment Research cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday. Barclays set a $174.00 price target on shares of Apple and gave the stock a “neutral” rating in a report on Thursday. Bank of America cut shares of Apple from a “buy” rating to a “neutral” rating and upped their price target for the stock from $180.00 to $220.00 in a report on Wednesday. Finally, Rosenblatt Securities restated a “buy” rating on shares of Apple in a report on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. Apple presently has a consensus rating of “Buy” and an average target price of $200.59.

The stock has a market cap of $916,270.00, a PE ratio of 19.42, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 earnings per share. equities research analysts predict that Apple Inc. will post 11.15 EPS for the current fiscal year.

In related news, insider Johny Srouji sold 10,368 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $174.68, for a total value of $1,811,082.24. Following the completion of the transaction, the insider now directly owns 81,560 shares of the company’s stock, valued at approximately $14,246,900.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the completion of the transaction, the insider now directly owns 39,682 shares of the company’s stock, valued at $6,839,192.70. The disclosure for this sale can be found here. Insiders sold a total of 128,412 shares of company stock valued at $22,115,155 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in AAPL. Lenox Wealth Advisors Inc. raised its position in Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares during the last quarter. Perkins Coie Trust Co raised its position in Apple by 1.0% during the 2nd quarter. Perkins Coie Trust Co now owns 26,924 shares of the iPhone maker’s stock worth $3,878,000 after buying an additional 256 shares during the last quarter. Koshinski Asset Management Inc. raised its position in Apple by 10.9% during the 2nd quarter. Koshinski Asset Management Inc. now owns 47,605 shares of the iPhone maker’s stock worth $6,856,000 after buying an additional 4,679 shares during the last quarter. Glaxis Capital Management LLC purchased a new position in Apple during the 2nd quarter worth approximately $4,378,000. Finally, Dynamic Advisors Solutions LLC raised its position in Apple by 0.6% during the 2nd quarter. Dynamic Advisors Solutions LLC now owns 19,859 shares of the iPhone maker’s stock worth $2,860,000 after buying an additional 114 shares during the last quarter. 60.19% of the stock is owned by hedge funds and other institutional investors.

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Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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