Traders bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Monday. $1,755.46 million flowed into the stock on the tick-up and $1,313.92 million flowed out of the stock on the tick-down, for a money net flow of $441.54 million into the stock. Of all stocks tracked, Apple had the highest net in-flow for the day. Apple traded down ($1.34) for the day and closed at $150.55
Several research firms recently weighed in on AAPL. Nomura set a $185.00 price target on Apple and gave the stock a “buy” rating in a research note on Monday. Citigroup Inc. reiterated a “buy” rating and set a $170.00 target price on shares of Apple in a research note on Friday. Maxim Group reiterated a “buy” rating and set a $182.00 target price on shares of Apple in a research note on Friday. Piper Jaffray Companies reiterated an “overweight” rating and set a $196.00 target price (up from $190.00) on shares of Apple in a research note on Friday. Finally, Vetr upgraded Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 target price on the stock in a research note on Friday. Ten analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $188.59.
The firm has a 50-day moving average price of $159.51 and a 200-day moving average price of $149.86. The company has a market capitalization of $777.77 billion, a PE ratio of 17.096 and a beta of 1.27.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. Apple’s revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post $9.01 earnings per share for the current fiscal year.
In other Apple news, insider Johny Srouji sold 5,892 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the completion of the sale, the insider now directly owns 70,358 shares in the company, valued at $11,327,638. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 432,930 shares of company stock valued at $69,008,577. 0.08% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vantage Financial Partners Ltd. Inc. purchased a new stake in Apple during the second quarter worth approximately $400,000. Blue Sky Asset Management LLC purchased a new stake in Apple during the second quarter worth approximately $108,000. FNY Managed Accounts LLC grew its stake in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the period. Hefty Wealth Partners grew its stake in Apple by 27.6% during 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 period. Finally, American Beacon Advisors Inc. purchased a new stake in Apple during the first quarter worth approximately $117,000. Institutional investors own 60.35% 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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