Short Interest in Apple Inc. (AAPL) Grows By 10.3%
Apple Inc. (NASDAQ:AAPL) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 49,908,997 shares, a growth of 10.3% from the April 28th total of 45,231,755 shares. Based on an average daily volume of 34,196,323 shares, the short-interest ratio is presently 1.5 days. Currently, 1.0% of the shares of the company are short sold.
Apple (NASDAQ:AAPL) opened at 153.87 on Friday. The firm has a market capitalization of $802.25 billion, a PE ratio of 18.05 and a beta of 1.26. The firm has a 50 day moving average of $147.75 and a 200 day moving average of $130.74. Apple has a one year low of $91.50 and a one year high of $156.65.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The company had revenue of $52.90 billion during the quarter, compared to analysts’ expectations of $52.61 billion. Apple had a return on equity of 34.94% and a net margin of 20.73%. Equities analysts forecast that Apple will post $8.93 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.64%. Apple’s dividend payout ratio is 27.31%.
In related news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $153.88, for a total transaction of $5,385,800.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at $179,775,388.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total value of $1,855,321.23. Following the transaction, the insider now owns 23,998 shares in the company, valued at $3,726,169.46. The disclosure for this sale can be found here. Insiders have sold 420,686 shares of company stock worth $63,066,393 over the last quarter. 0.08% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. JJJ Advisors Inc. boosted its stake in shares of Apple by 0.9% in the first quarter. JJJ Advisors Inc. now owns 1,533 shares of the iPhone maker’s stock worth $220,000 after buying an additional 14 shares during the period. Shoker Investment Counsel Inc. boosted its stake in shares of Apple by 0.3% in the first quarter. Shoker Investment Counsel Inc. now owns 5,196 shares of the iPhone maker’s stock worth $746,000 after buying an additional 17 shares during the period. Stonehearth Capital Management LLC boosted its stake in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares during the period. Noven Financial Group Inc. boosted its stake in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares during the period. Finally, Asset Planning Services Ltd. boosted its stake in shares of Apple by 0.3% in the fourth quarter. Asset Planning Services Ltd. now owns 7,859 shares of the iPhone maker’s stock worth $910,000 after buying an additional 24 shares during the period. 58.76% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on the company. Argus reiterated an “outperform” rating and set a $160.00 target price on shares of Apple in a research report on Monday, May 15th. Hilliard Lyons raised their price target on Apple from $147.00 to $170.00 and gave the company a “buy” rating in a report on Monday, May 15th. Canaccord Genuity reissued a “buy” rating and set a $180.00 price target (up from $165.00) on shares of Apple in a report on Tuesday, May 16th. BMO Capital Markets reissued an “outperform” rating and set a $170.00 price target (up from $160.00) on shares of Apple in a report on Wednesday, May 17th. Finally, Morgan Stanley reissued an “overweight” rating and set a $177.00 price target (up from $161.00) on shares of Apple in a report on Wednesday, May 17th. Eight investment analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $157.06.
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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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