Apple Inc. (NASDAQ:AAPL) Short Interest Update
Apple Inc. (NASDAQ:AAPL) saw a significant decrease in short interest in July. As of July 14th, there was short interest totalling 39,149,942 shares, a decrease of 6.5% from the June 30th total of 41,880,922 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 21,153,921 shares, the short-interest ratio is presently 1.9 days.
Shares of Apple (NASDAQ AAPL) opened at 150.56 on Friday. Apple has a 12 month low of $96.42 and a 12 month high of $156.65. The stock has a market cap of $785.00 billion, a P/E ratio of 17.66 and a beta of 1.31. The company has a 50 day moving average of $147.08 and a 200 day moving average of $141.61.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The company had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. Equities research analysts expect that Apple will post $8.89 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, insider Luca Maestri sold 4,757 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total value of $735,907.90. Following the sale, the insider now directly owns 3,414 shares in the company, valued at $528,145.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total value of $1,707,034.14. The disclosure for this sale can be found here. Insiders have sold 373,000 shares of company stock worth $56,497,046 over the last 90 days. 0.08% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in AAPL. Hefty Wealth Partners raised its position in Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. American Beacon Advisors Inc. bought a new position in Apple during the first quarter worth $117,000. Glacier Peak Capital LLC bought a new position in Apple during the fourth quarter worth $127,000. Odey Holdings AG raised its position in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Apple during the second quarter worth $149,000. 61.23% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on AAPL. Argus reiterated an “outperform” rating and issued a $160.00 price objective on shares of Apple in a research note on Monday, May 15th. Hilliard Lyons increased their price objective on Apple from $147.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price objective (up from $165.00) on shares of Apple in a research note on Tuesday, May 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $170.00 price objective (up from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $177.00 price objective (up from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Twelve investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $161.67.
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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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