Apple (NASDAQ:AAPL) Shares Down 1.6% – Should You Sell?

Apple Inc. (NASDAQ:AAPL)’s stock price dropped 1.6% during trading on Friday . The stock traded as low as $219.62 and last traded at $220.34. Approximately 11,014,024 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 52,235,921 shares. The stock had previously closed at $223.85.

Analysts Set New Price Targets

Several research analysts recently commented on AAPL shares. JPMorgan Chase & Co. boosted their target price on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. UBS Group increased their price target on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. DA Davidson set a $290.00 target price on Apple in a research note on Friday, January 31st. Finally, Moffett Nathanson restated a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Down 2.3 %

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $3.29 trillion, a P/E ratio of 34.72, a P/E/G ratio of 2.44 and a beta of 1.18. The firm has a 50 day simple moving average of $230.94 and a two-hundred day simple moving average of $233.28.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

Hedge Funds Weigh In On Apple

Institutional investors have recently bought and sold shares of the stock. Drystone LLC acquired a new position in Apple during the 4th quarter worth $25,000. Bull Oak Capital LLC increased its holdings in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Life Planning Partners Inc acquired a new stake in Apple during the fourth quarter worth about $47,000. Conquis Financial LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $63,000. Finally, LSV Asset Management bought a new position in Apple in the fourth quarter worth $65,000. 67.73% of the stock is currently owned by institutional investors.

About Apple

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.