Apple (NASDAQ:AAPL) Stock Price Down 2.8% – Here’s What Happened

by · The Cerbat Gem

Apple Inc. (NASDAQ:AAPL – Get Free Report) shares traded down 2.8% on Monday . The company traded as low as $191.36 and last traded at $191.53. 10,914,058 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 59,847,461 shares. The stock had previously closed at $196.98.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AAPL shares. Evercore ISI lifted their target price on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Tigress Financial raised their price target on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, April 3rd. Barclays increased their price objective on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. Finally, DA Davidson lowered their price objective on Apple from $290.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.85.

Check Out Our Latest Report on AAPL

Apple Trading Down 3.2 %

The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 2.44 and a beta of 1.26. The business’s 50 day moving average is $219.65 and its 200 day moving average is $230.13.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate 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, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 182,451 shares of company stock worth $40,818,720. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several institutional investors have recently bought and sold shares of AAPL. Drystone LLC acquired a new stake in shares of Apple in the fourth quarter valued at about $25,000. 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 last quarter. Conquis Financial LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $63,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth approximately $65,000. Finally, SPX Gestao de Recursos Ltda purchased a new stake in Apple in the 3rd quarter valued at approximately $71,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Company Profile

(Get Free Report)

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.

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