Apple Inc. (AAPL) Sees Significant Decrease in Short Interest
Apple Inc. (NASDAQ:AAPL) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 55,544,287 shares, a decline of 12.1% from the May 31st total of 63,195,541 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 33,955,192 shares, the short-interest ratio is currently 1.6 days.
AAPL has been the topic of a number of recent research reports. UBS AG upped their price target on Apple from $165.00 to $200.00 in a research report on Sunday, April 2nd. BTIG Research upped their price target on Apple from $133.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. Drexel Hamilton reaffirmed a “buy” rating and set a $185.00 price target on shares of Apple in a research report on Friday, March 10th. Credit Suisse Group AG set a $160.00 price target on Apple and gave the company a “buy” rating in a research report on Monday, March 13th. Finally, Instinet reaffirmed a “buy” rating and set a $135.00 price target on shares of Apple in a research report on Monday, March 13th. Eleven investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $160.83.
Shares of Apple (AAPL) opened at 145.83 on Thursday. The stock has a market cap of $760.33 billion, a price-to-earnings ratio of 17.11 and a beta of 1.28. Apple has a one year low of $91.50 and a one year high of $156.65. The company has a 50 day moving average price of $151.25 and a 200-day moving average price of $136.05.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The firm had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. Equities analysts predict that Apple will post $8.94 earnings per share for the current fiscal year.
In other Apple news, SVP D Bruce Sewell sold 67,500 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $148.76, for a total value of $10,041,300.00. Following the transaction, the senior vice president now owns 141,325 shares of the company’s stock, valued at $21,023,507. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $153.88, for a total value of $5,385,800.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $179,775,388.04. The disclosure for this sale can be found here. In the last three months, insiders sold 447,411 shares of company stock worth $67,200,745. Insiders own 0.08% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AAPL. BP PLC increased its stake in Apple by 0.5% in the fourth quarter. BP PLC now owns 666,500 shares of the iPhone maker’s stock valued at $77,207,000 after buying an additional 3,000 shares during the period. Johnson Financial Group Inc. increased its stake in Apple by 6.3% in the fourth quarter. Johnson Financial Group Inc. now owns 127,003 shares of the iPhone maker’s stock valued at $14,710,000 after buying an additional 7,513 shares during the period. Stanford Investment Group Inc. increased its stake in Apple by 25.9% in the fourth quarter. Stanford Investment Group Inc. now owns 98,014 shares of the iPhone maker’s stock valued at $11,352,000 after buying an additional 20,176 shares during the period. Harfst & Associates Inc. increased its stake in Apple by 3.7% in the fourth quarter. Harfst & Associates Inc. now owns 8,711 shares of the iPhone maker’s stock valued at $1,008,000 after buying an additional 314 shares during the period. Finally, Holderness Investments Co. increased its stake in Apple by 11.2% in the fourth quarter. Holderness Investments Co. now owns 6,522 shares of the iPhone maker’s stock valued at $755,000 after buying an additional 655 shares during the period. Hedge funds and other institutional investors own 61.26% of the company’s stock.
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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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