Apple (NASDAQ:AAPL) Trading Down 1.6% – Here’s Why

Shares of Apple Inc. (NASDAQ:AAPL) fell 1.6% during mid-day trading on Friday . The company traded as low as $219.62 and last traded at $220.34. 11,014,024 shares were traded during trading, a decline of 79% from the average session volume of 52,235,921 shares. The stock had previously closed at $223.85.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAPL. Maxim Group raised their target price on shares of Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Moffett Nathanson restated a “sell” rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. UBS Group increased their target price on Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $245.52.

Apple Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average of $230.70 and a 200 day moving average of $233.35. The firm has a market capitalization of $3.27 trillion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Apple’s dividend payout ratio is currently 15.87%.

Institutional Trading of Apple

A number of institutional investors and hedge funds have recently modified their holdings of AAPL. Drystone LLC purchased a new position in shares of Apple in the 4th quarter worth about $25,000. Bull Oak Capital LLC raised its position in 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 acquiring an additional 111 shares during the period. Life Planning Partners Inc purchased a new position in Apple in the fourth quarter valued at about $47,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $63,000. Finally, LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth approximately $65,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.