Traders bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Monday. $1,689.61 million flowed into the stock on the tick-up and $1,636.49 million flowed out of the stock on the tick-down, for a money net flow of $53.12 million into the stock. Of all stocks tracked, Apple had the 10th highest net in-flow for the day. Apple traded down ($0.56) for the day and closed at $172.43
A number of brokerages have recently commented on AAPL. BidaskClub upgraded Apple from a “sell” rating to a “hold” rating in a research report on Saturday. Raymond James Financial reiterated a “market perform” rating on shares of Apple in a research report on Friday. BMO Capital Markets downgraded Apple from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $162.00 to $166.00 in a research report on Wednesday, January 31st. Morningstar set a $170.00 price objective on Apple and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Sanford C. Bernstein set a $195.00 price objective on Apple and gave the company a “buy” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $201.64.
The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $874,910.00, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.30 and a beta of 1.33.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.82 by $0.07. The business had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. Apple’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.36 earnings per share. analysts forecast that Apple Inc. will post 11.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is 24.66%.
In other Apple news, insider Eduardo H. Cue sold 65,361 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares in the company, valued at $2,401,302.42. The disclosure for this sale can be found here. Insiders have sold 112,771 shares of company stock worth $19,419,429 over the last three months. Company insiders own 0.06% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Blue Sky Asset Management LLC bought a new stake in Apple during the second quarter valued at about $108,000. University of Texas Investment Managment Co. bought a new stake in Apple during the fourth quarter valued at about $114,000. FNY Managed Accounts LLC lifted its stake in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after buying an additional 716 shares during the period. Private Vista LLC bought a new stake in shares of Apple in the second quarter valued at about $122,000. Finally, Armbruster Capital Management Inc. lifted its stake in shares of Apple by 9.4% in the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after buying an additional 78 shares during the period. 59.70% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “Traders Buy Shares of Apple (AAPL) on Weakness” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.dispatchtribunal.com/2018/02/19/traders-buy-shares-of-apple-aapl-on-weakness-2.html.
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.
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.