Investors Buy Apple Inc. (AAPL) on Weakness
Traders bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Monday. $566.06 million flowed into the stock on the tick-up and $503.92 million flowed out of the stock on the tick-down, for a money net flow of $62.14 million into the stock. Of all equities tracked, Apple had the 4th highest net in-flow for the day. Apple traded down ($0.31) for the day and closed at $153.81
Several equities research analysts have recently issued reports on the stock. UBS AG set a $170.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Bank of America Corporation reissued a “buy” rating and issued a $180.00 target price on shares of Apple in a report on Tuesday, September 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $160.08 target price (down previously from $176.00) on shares of Apple in a report on Wednesday, August 9th. Longbow Research restated a “buy” rating and issued a $173.00 price target on shares of Apple in a research note on Friday, August 11th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $150.00 price target on shares of Apple in a research note on Thursday, September 21st. Ten research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $188.96.
The company’s 50-day moving average is $159.51 and its 200-day moving average is $149.86. The company has a market cap of $133.85 billion, a price-to-earnings ratio of 17.42 and a beta of 1.27.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 EPS. On average, equities analysts predict that Apple Inc. will post $9.00 earnings per share for the current year.
In other news, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock worth $69,008,577 in the last three months. Company insiders own 0.08% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Blue Sky Asset Management LLC bought a new position in shares of Apple during the 2nd quarter worth approximately $108,000. Hefty Wealth Partners boosted its holdings in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares during the last quarter. FNY Managed Accounts LLC boosted its holdings in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the last quarter. American Beacon Advisors Inc. acquired a new position in Apple during the first quarter worth $117,000. Finally, Private Vista LLC acquired a new position in Apple during the second quarter worth $122,000. 60.36% of the stock is currently owned by institutional investors and hedge funds.
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Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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