Apple (NASDAQ:AAPL) Stock Price Down 0.4% – Here’s Why

Apple Inc. (NASDAQ:AAPL)’s stock price dropped 0.4% on Tuesday . The stock traded as low as $244.91 and last traded at $246.22. Approximately 15,326,199 shares changed hands during trading, a decline of 71% from the average daily volume of 52,372,703 shares. The stock had previously closed at $247.10.

Analysts Set New Price Targets

A number of research firms have issued reports on AAPL. Monness Crespi & Hardt lifted their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Moffett Nathanson restated a “sell” rating and set a $188.00 price target (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Evercore ISI boosted their target price on Apple to $260.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, DA Davidson set a $290.00 target price on Apple in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $243.88.

Apple Stock Performance

The business’s fifty day moving average price is $240.39 and its 200-day moving average price is $233.12. The stock has a market capitalization of $3.73 trillion, a PE ratio of 39.46, a P/E/G ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) 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%. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Institutional investors and hedge funds have recently made changes to their positions in the stock. Drystone LLC bought a new position in shares of Apple during the 4th quarter valued at about $25,000. Bull Oak Capital LLC lifted its position in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter valued at approximately $42,000. Life Planning Partners Inc bought a new position in shares of Apple in the fourth quarter worth approximately $47,000. Finally, Conquis Financial LLC bought a new position in shares of Apple in the fourth quarter worth approximately $63,000. Hedge funds and other 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.