Stock Traders Buy High Volume of Put Options on Apple (AAPL)
Apple (NASDAQ:AAPL) saw unusually large options trading on Tuesday. Stock investors purchased 111,206 put options on the company, StockRatingsNetwork reports. This represents an increase of 171% compared to the average volume of 41,017 put options.
AAPL has been the subject of a number of recent research reports. Analysts at Barclays Capital reiterated an “overweight” rating on shares of Apple in a research note to investors on Tuesday. Separately, analysts at Wells Fargo & Co. reiterated a “positive” rating on shares of Apple in a research note to investors on Tuesday. Finally, analysts at Cowen and Company reiterated a “positive” rating on shares of Apple in a research note to investors on Monday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, forty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $558.90.
Shares of Apple (NASDAQ:AAPL) traded down 1.40% during mid-day trading on Tuesday, hitting $480.94. The stock had a trading volume of 10,381,019 shares. Apple has a 52-week low of $385.10 and a 52-week high of $652.79. The stock has a 50-day moving average of $486.0 and a 200-day moving average of $449.. The company has a market cap of $436.9 billion and a price-to-earnings ratio of 12.16.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 23rd. The company reported $7.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $7.28 by $0.19. The company had revenue of $35.32 billion for the quarter, compared to the consensus estimate of $35.01 billion. During the same quarter last year, the company posted $9.32 earnings per share. Apple’s revenue was up .9% compared to the same quarter last year. Analysts expect that Apple will post $39.32 EPS for the current fiscal year.
Apple Inc (NASDAQ:AAPL) 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.