Investors Buy Shares of Apple (AAPL) on Weakness

Investors bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Tuesday. $1,836.41 million flowed into the stock on the tick-up and $1,433.58 million flowed out of the stock on the tick-down, for a money net flow of $402.83 million into the stock. Of all stocks tracked, Apple had the 2nd highest net in-flow for the day. Apple traded down ($0.99) for the day and closed at $166.97

AAPL has been the subject of a number of research reports. Macquarie set a $188.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Friday. ValuEngine upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a report on Thursday, January 18th. Piper Jaffray Companies restated a “buy” rating and set a $200.00 target price on shares of Apple in a report on Tuesday, January 2nd. Finally, Bank of America cut shares of Apple from a “buy” rating to a “neutral” rating and raised their target price for the stock from $180.00 to $220.00 in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $201.18.

The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. The stock has a market cap of $857,280.00, a PE ratio of 18.17, a PEG ratio of 1.39 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. During the same period last year, the business posted $1.50 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. research analysts expect that Apple Inc. will post 11.17 earnings per share for the current fiscal year.

In other news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction dated 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 sale, the insider now directly owns 39,682 shares in the company, valued at approximately $6,839,192.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Johny Srouji sold 5,760 shares of Apple stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the sale, the senior vice president now owns 81,560 shares in the company, valued at $14,224,064. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,412 shares of company stock worth $22,115,155. 0.06% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in Apple by 14,030.2% in the second quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after buying an additional 4,483,360 shares in the last quarter. Truepoint Inc. boosted its position in Apple by 15,559.4% in the third quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock valued at $4,437,000 after buying an additional 4,408,441 shares in the last quarter. Capital Research Global Investors boosted its position in Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Apple by 9,166.4% in the third quarter. Stifel Financial Corp now owns 3,883,754 shares of the iPhone maker’s stock valued at $598,497,000 after buying an additional 3,841,842 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

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About Apple

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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