Apple (NASDAQ:AAPL) Stock Price Up 4.2% – Here’s What Happened

Apple Inc. (NASDAQ:AAPL)’s share price shot up 4.2% during trading on Tuesday . The company traded as high as $238.84 and last traded at $239.41. 26,880,323 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 55,590,625 shares. The stock had previously closed at $229.86.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research reports. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Moffett Nathanson restated a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Raymond James lifted their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Wells Fargo & Company upped their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group cut their price target on Apple from $286.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $238.05.

Apple Stock Performance

The company has a market capitalization of $3.57 trillion, a P/E ratio of 39.08, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company’s fifty day moving average is $241.37 and its 200 day moving average is $230.81.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. As a group, equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio is presently 16.45%.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction 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 approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apple

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Drystone LLC purchased a new stake in Apple in the fourth quarter worth approximately $25,000. Bull Oak Capital LLC grew its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the second quarter valued at approximately $42,000. Life Planning Partners Inc purchased a new position in Apple during the 4th quarter valued at $47,000. Finally, Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Company Profile

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.