Apple (NASDAQ:AAPL) Shares Down 0.3% – What’s Next?

Apple Inc. (NASDAQ:AAPL) shares were down 0.3% during trading on Tuesday . The stock traded as low as $242.68 and last traded at $244.26. Approximately 10,207,795 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 37,355,895 shares. The stock had previously closed at $245.00.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. New Street Research reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Loop Capital reduced their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. UBS Group reissued a “neutral” rating and issued a $236.00 price target on shares of Apple in a report on Monday, December 2nd. Finally, Maxim Group boosted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.64.

Apple Stock Down 1.2 %

The company’s 50 day simple moving average is $239.15 and its 200-day simple moving average is $229.33. The firm has a market cap of $3.66 trillion, a P/E ratio of 39.83, a PEG ratio of 2.41 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share. Research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s payout ratio is 16.45%.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. O Connor Financial Group LLC lifted its holdings in Apple by 1.2% in the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after buying an additional 41 shares during the period. 1620 Investment Advisors Inc. lifted its stake in shares of Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC boosted its position in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares in the last quarter. Verus Financial Partners Inc. grew its stake in Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the period. Finally, Menard Financial Group LLC raised its holdings in Apple by 0.4% in the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

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.