Apple Inc. (AAPL) Sees Significant Decline in Short Interest
Apple Inc. (NASDAQ:AAPL) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 54,716,456 shares, a decline of 9.0% from the September 15th total of 60,135,782 shares. Based on an average daily volume of 39,761,161 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.0% of the shares of the stock are short sold.
Several research analysts have recently weighed in on the stock. Raymond James Financial Inc. reissued a “hold” rating on shares of Apple in a research report on Saturday, July 9th. Barclays PLC reissued a “buy” rating on shares of Apple in a research report on Sunday, July 17th. Credit Suisse Group AG reissued a “buy” rating and issued a $150.00 target price on shares of Apple in a research report on Sunday, July 17th. Brean Capital reissued a “buy” rating and issued a $125.00 target price on shares of Apple in a research report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Apple in a research report on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, forty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $126.72.
In related news, insider Daniel J. Riccio sold 22,381 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total value of $2,530,395.86. Following the sale, the insider now directly owns 47,043 shares in the company, valued at approximately $5,318,681.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 43,769 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total transaction of $4,927,951.71. Following the completion of the sale, the chief operating officer now owns 90,657 shares in the company, valued at $10,207,071.63. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.
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Hedge funds have recently made changes to their positions in the company. Zurich Insurance Group Ltd FI raised its stake in shares of Apple by 1.4% in the first quarter. Zurich Insurance Group Ltd FI now owns 869,381 shares of the iPhone maker’s stock worth $94,754,000 after buying an additional 11,582 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Apple by 34.8% in the second quarter. BNP Paribas Arbitrage SA now owns 5,887,600 shares of the iPhone maker’s stock worth $562,855,000 after buying an additional 1,521,440 shares during the period. Roffman Miller Associates Inc. PA raised its stake in shares of Apple by 25.0% in the second quarter. Roffman Miller Associates Inc. PA now owns 139,953 shares of the iPhone maker’s stock worth $13,380,000 after buying an additional 28,020 shares during the period. Capstone Asset Management Co. raised its stake in shares of Apple by 19.1% in the second quarter. Capstone Asset Management Co. now owns 550,349 shares of the iPhone maker’s stock worth $52,613,000 after buying an additional 88,106 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Apple by 1.0% in the first quarter. Prudential Financial Inc. now owns 12,655,593 shares of the iPhone maker’s stock worth $1,379,333,000 after buying an additional 127,360 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.
Apple (NASDAQ:AAPL) opened at 116.98 on Friday. The firm has a 50 day moving average of $111.28 and a 200 day moving average of $103.56. The firm has a market cap of $630.34 billion, a P/E ratio of 13.64 and a beta of 1.22. Apple has a 1-year low of $89.47 and a 1-year high of $123.82.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $42.36 billion for the quarter, compared to analyst estimates of $42.35 billion. During the same quarter last year, the business earned $1.85 earnings per share. Apple’s revenue was down 14.6% compared to the same quarter last year. On average, equities research analysts expect that Apple will post $8.26 EPS for the current year.
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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