Traders Buy Shares of Apple Inc. (AAPL) on Weakness
Traders purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Tuesday. $763.76 million flowed into the stock on the tick-up and $706.43 million flowed out of the stock on the tick-down, for a money net flow of $57.33 million into the stock. Of all equities tracked, Apple had the 5th highest net in-flow for the day. Apple traded down ($0.01) for the day and closed at $113.57
Several equities research analysts have recently issued reports on the company. Raymond James Financial Inc. restated a “hold” rating on shares of Apple in a report on Saturday, July 9th. Barclays PLC reiterated a “buy” rating on shares of Apple in a report on Sunday, July 17th. Credit Suisse Group AG reiterated a “buy” rating and issued a $150.00 target price on shares of Apple in a report on Sunday, July 17th. Brean Capital reiterated a “buy” rating and issued a $125.00 target price on shares of Apple in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Apple in a report on Thursday, August 11th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, forty-two have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $126.34.
The company’s 50-day moving average is $108.35 and its 200-day moving average is $102.31. The company has a market cap of $611.97 billion, a price-to-earnings ratio of 13.24 and a beta of 1.14.
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Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. During the same period in the prior year, the firm earned $1.85 earnings per share. Apple’s revenue was down 14.6% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post $8.26 earnings per share for the current year.
In other Apple news, CEO Timothy D. Cook sold 49,883 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $106.19, for a total value of $5,297,075.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 334,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $35,814,820.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC boosted its position in shares of Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Delphi Private Advisors LLC boosted its position in shares of Apple by 5.0% in the second quarter. Delphi Private Advisors LLC now owns 1,462 shares of the iPhone maker’s stock worth $140,000 after buying an additional 69 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Apple during the second quarter worth about $143,000. River & Mercantile Asset Management LLP boosted its position in shares of Apple by 22.8% in the second quarter. River & Mercantile Asset Management LLP now owns 1,800 shares of the iPhone maker’s stock worth $172,000 after buying an additional 334 shares during the last quarter. Finally, Roble Belko & Company Inc boosted its position in shares of Apple by 60.6% in the second quarter. Roble Belko & Company Inc now owns 1,803 shares of the iPhone maker’s stock worth $172,000 after buying an additional 680 shares during the last quarter. 56.52% of the stock is currently owned by hedge funds and other institutional investors.
Apple Company Profile
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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