Apple (NASDAQ:AAPL) Trading Down 1.9% – What’s Next?

Apple Inc. (NASDAQ:AAPL)’s share price was down 1.9% during mid-day trading on Wednesday . The stock traded as low as $230.52 and last traded at $231.46. Approximately 13,263,797 shares were traded during trading, a decline of 75% from the average daily volume of 53,592,788 shares. The stock had previously closed at $235.93.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. KeyCorp reiterated an “underweight” rating and issued a $200.00 target price on shares of Apple in a report on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Raymond James raised their price objective on Apple to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 20th. Finally, Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.88.

Apple Stock Performance

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 stock has a market cap of $3.60 trillion, a P/E ratio of 37.99, a PEG ratio of 2.44 and a beta of 1.20. The stock has a 50-day simple moving average of $237.89 and a 200-day simple moving average of $233.94.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Large investors have recently modified their holdings of the business. Alpha Wealth Funds LLC bought a new stake in shares of Apple in the 4th quarter valued at about $3,366,000. Copia Wealth Management bought a new stake in Apple in the fourth quarter valued at approximately $1,358,000. IronOak Wealth LLC. bought a new position in Apple during the 4th quarter worth approximately $2,364,000. Arcadia Wealth Management Inc. bought a new stake in Apple during the fourth quarter valued at $1,804,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Apple during the 4th quarter worth approximately $3,210,000. 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.