Apple (NASDAQ:AAPL) Trading Down 0% – What’s Next?

Apple Inc. (NASDAQ:AAPL)’s share price dropped 0% on Tuesday . The stock traded as low as $236.34 and last traded at $238.03. Approximately 15,270,535 shares changed hands during trading, a decline of 72% from the average daily volume of 53,722,678 shares. The stock had previously closed at $238.03.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. Maxim Group lifted their target price on Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Monness Crespi & Hardt lifted their target price on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. KeyCorp reaffirmed an “underweight” rating and set a $200.00 target price on shares of Apple in a research note on Friday, January 31st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.88.

Apple Stock Down 0.9 %

The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a 50-day simple moving average of $239.26 and a two-hundred day simple moving average of $233.85. The company has a market cap of $3.54 trillion, a price-to-earnings ratio of 37.45, a PEG ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is 15.87%.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Large investors have recently made changes to their positions in the company. Drystone LLC bought a new stake in shares of Apple in the 4th quarter valued at $25,000. Bull Oak Capital LLC increased its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in Apple during the 2nd quarter worth about $42,000. Life Planning Partners Inc acquired a new position in shares of Apple during the 4th quarter worth about $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Apple during the 4th quarter worth about $63,000. Institutional investors own 67.73% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.