Apple (NASDAQ:AAPL) Shares Down 0.6%

Apple Inc. (NASDAQ:AAPL)’s stock price fell 0.6% during mid-day trading on Tuesday . The company traded as low as $216.73 and last traded at $219.68. 15,303,438 shares were traded during trading, a decline of 75% from the average session volume of 61,072,043 shares. The stock had previously closed at $220.91.

Analyst Upgrades and Downgrades

Several research firms recently commented on AAPL. Wedbush restated an “outperform” rating and issued a $285.00 price target on shares of Apple in a report on Monday. Evercore ISI reissued an “outperform” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, August 27th. Maxim Group restated a “hold” rating and set a $203.00 target price on shares of Apple in a report on Tuesday. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $238.62.

Apple Stock Up 0.2 %

The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The stock’s 50 day moving average is $223.17 and its 200 day moving average is $197.62. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is currently 15.55%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently modified their holdings of AAPL. Yeomans Consulting Group Inc. acquired a new position in Apple in the 4th quarter worth about $1,713,000. Raleigh Capital Management Inc. raised its position in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA acquired a new stake in Apple in the fourth quarter valued at approximately $38,406,000. Barden Capital Management Inc. grew its position in Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after acquiring an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC acquired a new position in shares of Apple during the 4th quarter worth $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.