Traders Buy Shares of Apple (AAPL) on Weakness

Investors purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Wednesday. $1,465.41 million flowed into the stock on the tick-up and $1,172.00 million flowed out of the stock on the tick-down, for a money net flow of $293.41 million into the stock. Of all companies tracked, Apple had the 3rd highest net in-flow for the day. Apple traded down ($0.78) for the day and closed at $171.07

Several research firms have recently weighed in on AAPL. Zacks Investment Research lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. Mizuho restated a “neutral” rating and set a $175.00 price objective (up previously from $160.00) on shares of Apple in a research report on Friday, January 19th. Barclays set a $174.00 price objective on shares of Apple and gave the company a “neutral” rating in a research report on Thursday, January 18th. Bank of America lowered shares of Apple from a “buy” rating to a “neutral” rating and raised their price objective for the company from $180.00 to $220.00 in a research report on Wednesday, January 17th. Finally, Atlantic Securities lowered shares of Apple from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $177.35 to $190.00 in a research report on Monday, January 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and a consensus price target of $201.64.

The firm has a market cap of $885,160.00, a P/E ratio of 17.08, a PEG ratio of 1.29 and a beta of 1.33. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, topping the 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 quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $3.36 earnings per share. research analysts forecast that Apple Inc. will post 11.43 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.52 dividend on an annualized basis and a yield of 1.46%. Apple’s dividend payout ratio is currently 24.66%.

In other Apple news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction on Friday, January 5th. The shares were sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the sale, the insider now owns 13,739 shares in the company, valued at $2,401,302.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eduardo H. Cue sold 65,361 shares of Apple stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total transaction of $11,215,947.60. The disclosure for this sale can be found here. Insiders have sold 96,643 shares of company stock worth $16,603,803 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Sky Asset Management LLC bought a new position in shares of Apple in the second quarter valued at about $108,000. University of Texas Investment Managment Co. bought a new stake in Apple during the 4th quarter worth about $114,000. FNY Managed Accounts LLC raised its holdings in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the last quarter. Private Vista LLC bought a new stake in Apple during the 2nd quarter worth about $122,000. Finally, Armbruster Capital Management Inc. raised its holdings in Apple by 9.4% during the 2nd quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 59.70% 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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