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

Shares of Apple Inc. (NASDAQ:AAPL) were down 0.1% during trading on Tuesday . The company traded as low as $232.51 and last traded at $233.24. Approximately 7,471,015 shares were traded during trading, a decline of 87% from the average daily volume of 59,276,590 shares. The stock had previously closed at $233.40.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AAPL shares. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and lifted their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Moffett Nathanson began coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price target for the company. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a report on Friday, October 25th. Finally, Barclays reiterated an “underweight” rating and set a $186.00 price objective on shares of Apple in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

Apple Price Performance

The firm’s fifty day moving average price is $227.23 and its 200 day moving average price is $211.59. The firm has a market capitalization of $3.53 trillion, a PE ratio of 35.79, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC raised its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the period. Bull Oak Capital LLC raised its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc raised its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the period. Finally, Access Investment Management LLC acquired a new stake in shares of Apple in the first quarter valued at about $140,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

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.