Apple (NASDAQ:AAPL) Stock Price Up 0.5% – Still a Buy?

Shares of Apple Inc. (NASDAQ:AAPL) rose 0.5% during mid-day trading on Thursday . The company traded as high as $217.49 and last traded at $216.35. Approximately 8,786,211 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 52,705,436 shares. The stock had previously closed at $215.24.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Sanford C. Bernstein boosted their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Tuesday, January 21st. Finally, Moffett Nathanson reissued a “sell” rating and set a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

Apple Stock Down 0.9 %

The company has a market cap of $3.20 trillion, a P/E ratio of 33.90, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company’s 50-day moving average is $232.76 and its two-hundred day moving average is $233.47.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results 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 net margin of 24.30% and a return on equity of 160.83%. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Institutional Investors Weigh In On Apple

Large investors have recently added to or reduced their stakes in the stock. Drystone LLC bought a new stake in Apple in the 4th quarter worth approximately $25,000. Bull Oak Capital LLC grew its position in Apple by 252.3% in 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 during the period. Life Planning Partners Inc bought a new stake in Apple in the 4th quarter worth approximately $47,000. Conquis Financial LLC bought a new stake in Apple in the 4th quarter worth approximately $63,000. Finally, LSV Asset Management bought a new stake in Apple in the 4th quarter worth approximately $65,000. Institutional investors own 67.73% of the company’s stock.

Apple Company Profile

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.