Short Interest in Apple Inc. (AAPL) Drops By 12.3%
Apple Inc. (NASDAQ:AAPL) saw a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 45,746,430 shares, a decline of 12.3% from the December 15th total of 52,153,724 shares. Based on an average daily volume of 23,901,107 shares, the short-interest ratio is currently 1.9 days. Approximately 0.9% of the company’s stock are short sold.
Several research firms have recently weighed in on AAPL. Bank of America downgraded shares of Apple from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $180.00 to $220.00 in a research report on Wednesday. Longbow Research downgraded shares of Apple from a “buy” rating to a “neutral” rating in a research report on Wednesday. Maxim Group boosted their target price on shares of Apple from $193.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, UBS Group set a $190.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $199.83.
In other news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the sale, the senior vice president now owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the completion of the sale, the insider now directly owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The disclosure for this sale can be found here. Insiders sold a total of 128,412 shares of company stock valued at $22,115,155 in the last three months. Insiders own 0.06% of the company’s stock.
Several large investors have recently modified their holdings of the company. Blue Sky Asset Management LLC acquired a new stake in Apple during the second quarter valued at approximately $108,000. Hefty Wealth Partners lifted its stake in Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 174 shares during the last quarter. FNY Managed Accounts LLC lifted its stake in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after purchasing an additional 716 shares during the last quarter. Private Vista LLC acquired a new stake in Apple during the second quarter valued at approximately $122,000. Finally, Armbruster Capital Management Inc. lifted its stake in Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock valued at $131,000 after purchasing an additional 78 shares during the last quarter. 60.19% of the stock is owned by institutional investors.
Shares of Apple (AAPL) opened at $179.10 on Thursday. The firm has a market cap of $919,560.00, a P/E ratio of 19.49, a PEG ratio of 1.45 and a beta of 1.23. Apple has a one year low of $119.37 and a one year high of $179.39. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.50 EPS. research analysts anticipate that Apple will post 11.18 earnings per share for the current year.
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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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