Short Interest in Apple Inc. (NASDAQ:AAPL) Declines By 10.3%

Apple Inc. (NASDAQ:AAPL) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 45,510,000 shares, a drop of 10.3% from the December 15th total of 50,750,000 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average trading volume of 26,330,000 shares, the days-to-cover ratio is presently 1.7 days.

In other news, Director Arthur D. Levinson sold 37,394 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the transaction, the director now directly owns 1,170,677 shares of the company’s stock, valued at $301,788,823.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.05% of the company’s stock.

Several large investors have recently bought and sold shares of AAPL. Eagle Capital Management LLC increased its stake in shares of Apple by 0.5% in the second quarter. Eagle Capital Management LLC now owns 22,953 shares of the iPhone maker’s stock valued at $4,543,000 after buying an additional 104 shares during the period. Kanawha Capital Management LLC increased its stake in shares of Apple by 2.2% in the second quarter. Kanawha Capital Management LLC now owns 93,192 shares of the iPhone maker’s stock valued at $18,445,000 after buying an additional 2,029 shares during the period. Smith Asset Management Group LP increased its stake in shares of Apple by 2.9% in the second quarter. Smith Asset Management Group LP now owns 546,267 shares of the iPhone maker’s stock valued at $108,117,000 after buying an additional 15,340 shares during the period. ProVise Management Group LLC increased its stake in shares of Apple by 0.4% in the second quarter. ProVise Management Group LLC now owns 38,638 shares of the iPhone maker’s stock valued at $7,647,000 after buying an additional 170 shares during the period. Finally, Brickley Wealth Management increased its stake in shares of Apple by 2.9% in the second quarter. Brickley Wealth Management now owns 54,914 shares of the iPhone maker’s stock valued at $10,869,000 after buying an additional 1,548 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

NASDAQ AAPL opened at $311.34 on Thursday. The firm’s fifty day simple moving average is $284.56 and its two-hundred day simple moving average is $238.26. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 1.01. Apple has a 12-month low of $150.05 and a 12-month high of $317.57. The firm has a market capitalization of $1,370.80 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.26 and a beta of 1.25.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The business had revenue of $64.04 billion during the quarter, compared to the consensus estimate of $62.86 billion. During the same period in the previous year, the firm posted $2.91 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Apple will post 13.15 earnings per share for the current fiscal year.

AAPL has been the topic of several research reports. Canaccord Genuity raised shares of Apple to a “buy” rating and lifted their price objective for the company from $275.00 to $355.00 in a report on Tuesday. Cowen reissued an “outperform” rating and set a $325.00 price objective (up from $290.00) on shares of Apple in a report on Tuesday, December 17th. Barclays lifted their price objective on shares of Apple from $224.00 to $236.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Monness Crespi & Hardt lifted their price objective on shares of Apple from $265.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Raymond James reissued an “outperform” rating and set a $280.00 price objective (up from $250.00) on shares of Apple in a report on Monday, October 21st. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Apple has an average rating of “Hold” and a consensus target price of $274.36.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Featured Story: What is a capital gain?

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.