Apple (NASDAQ:AAPL) Stock Price Down 0.1% – What’s Next?

Apple Inc. (NASDAQ:AAPL)’s share price was down 0.1% during trading on Monday . The company traded as low as $239.83 and last traded at $241.62. Approximately 12,027,694 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 51,809,688 shares. The stock had previously closed at $241.84.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAPL. DA Davidson set a $290.00 target price on Apple in a research report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Friday, January 31st. TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. Finally, UBS Group lifted their price objective on Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.88.

Apple Price Performance

The stock has a market cap of $3.58 trillion, a price-to-earnings ratio of 37.78, a P/E/G ratio of 2.44 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company’s fifty day moving average is $239.60 and its two-hundred day moving average is $233.75.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio is presently 15.87%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several hedge funds and other institutional investors have recently made changes to their positions in AAPL. WINTON GROUP Ltd purchased a new stake in Apple during the 2nd quarter worth about $316,000. Nia Impact Advisors LLC lifted its stake in Apple by 1.1% during the second quarter. Nia Impact Advisors LLC now owns 50,108 shares of the iPhone maker’s stock worth $10,554,000 after purchasing an additional 541 shares during the last quarter. Providence Wealth Advisors LLC boosted its holdings in Apple by 0.8% in the second quarter. Providence Wealth Advisors LLC now owns 44,995 shares of the iPhone maker’s stock valued at $9,662,000 after purchasing an additional 342 shares in the last quarter. Stevard LLC increased its stake in Apple by 16.0% in the second quarter. Stevard LLC now owns 12,822 shares of the iPhone maker’s stock valued at $2,701,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Plato Investment Management Ltd raised its holdings in Apple by 4.6% during the second quarter. Plato Investment Management Ltd now owns 349,523 shares of the iPhone maker’s stock worth $73,617,000 after purchasing an additional 15,285 shares in the last quarter. Hedge funds and other institutional investors own 67.73% 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.