Shares of Apple (NASDAQ:AAPL) fell 0.3%

Apple Inc. stock price (NASDAQ:AAPL – Get Free Report ) was down 0.3% in mid-day trading on Monday. The stock traded as high as $227.48 and last traded at $229.00. About 52,990,699 shares traded hands during trading, down 14% from the average daily volume of 61,696,328 shares. Shares previously closed at $229.79.

Analyst upgrades and downgrades

AAPL has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $300.00 in a research report on Monday. , July 15. Barclays decreased their target price on shares of Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. KeyCorp restated a “hold” rating and issued a $247.61 price target on shares of Apple in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Apple from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Moderate Buy” and a consensus price target of $237.30, according to MarketBeat.

Read our latest analysis of AAPL

Apple’s price performance

The stock has a market cap of $3.42 trillion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95, and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is $222.57 and its 200-day moving average price is $196.53.

Apple (NASDAQ:AAPL – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. In the same period last year, the company earned $1.26 per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equity analysts estimate that Apple Inc. will post 6.7 EPS for the current year.

Apple announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a dividend of $1.00 on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insider buying and selling

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the past three months. 0.06% of shares are owned by company insiders.

Hedge funds hurt Apple

A number of large investors have recently added to or reduced their stakes in the company. Clear Rock Advisors LLC boosted its holdings in Apple by 17.5% in the second quarter. Clear Rock Advisors LLC now owns 15,189 shares of the iPhone maker’s stock worth $3,199,000 after purchasing an additional 2,258 shares in the last quarter. Creekside Partners bought a new position in Apple in the second quarter valued at approximately $8,230,000. Brown Financial Advisors acquired a new position in shares of Apple during the second quarter valued at about $4,405,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Apple during the second quarter valued at approximately $11,178,000. Finally, RiverFront Investment Group LLC boosted its holdings in shares of Apple by 13.2% during the second quarter. RiverFront Investment Group LLC now owns 275,702 shares of the iPhone maker’s stock valued at $58,068,000 after purchasing an additional 32,203 shares in the last quarter. 60.41% of the shares are currently owned by institutional investors.

About Apple

(Get a free report)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearable devices and accessories worldwide. The company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products and HomePod.

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