Traders Buy Shares of Apple (AAPL) on Weakness

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.

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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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