Investors Buy Apple (AAPL) on Weakness

Traders bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Friday. $1,689.61 million flowed into the stock on the tick-up and $1,636.49 million flowed out of the stock on the tick-down, for a money net flow of $53.12 million into the stock. Of all equities tracked, Apple had the 10th highest net in-flow for the day. Apple traded down ($0.56) for the day and closed at $172.43

Several research firms have recently commented on AAPL. BidaskClub upgraded Apple from a “sell” rating to a “hold” rating in a research note on Saturday. Raymond James Financial restated a “market perform” rating on shares of Apple in a research note on Friday. BMO Capital Markets cut Apple from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $162.00 to $166.00 in a research note on Wednesday, January 31st. Morningstar set a $170.00 price target on Apple and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, Sanford C. Bernstein cut Apple from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $195.00 to $170.00 in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. Apple currently has an average rating of “Buy” and a consensus target price of $201.64.

The firm has a market capitalization of $874,910.00, a price-to-earnings ratio of 16.87, a P/E/G ratio of 1.30 and a beta of 1.33. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.74.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.82 by $0.07. The company had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $3.36 EPS. analysts expect that Apple Inc. will post 11.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.46%. Apple’s dividend payout ratio (DPR) is 24.66%.

In other news, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares in the company, valued at approximately $2,401,302.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Johny Srouji sold 5,760 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the transaction, the senior vice president now owns 81,560 shares in the company, valued at $14,224,064. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,771 shares of company stock worth $19,419,429. Company insiders own 0.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Stone House Investment Management LLC raised its holdings in shares of Apple by 0.4% during the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after buying an additional 6 shares during the period. Jackson Grant Investment Advisers Inc. raised its holdings in shares of Apple by 0.3% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after buying an additional 17 shares during the period. Karp Capital Management Corp raised its holdings in shares of Apple by 1.6% during the 2nd quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after buying an additional 22 shares during the period. Welch Investments LLC raised its holdings in shares of Apple by 1.5% during the 2nd quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after buying an additional 23 shares during the period. Finally, Berkeley Capital Partners LLC grew its stake in Apple by 0.6% during the 2nd quarter. Berkeley Capital Partners LLC now owns 4,369 shares of the iPhone maker’s stock valued at $629,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 60.18% of the company’s stock.

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About Apple

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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