Traders Buy Shares of Apple (AAPL) on Weakness

Investors bought shares of Apple (NASDAQ:AAPL) on weakness during trading hours on Monday. $1,747.69 million flowed into the stock on the tick-up and $1,221.28 million flowed out of the stock on the tick-down, for a money net flow of $526.41 million into the stock. Of all companies tracked, Apple had the highest net in-flow for the day. Apple traded down ($1.10) for the day and closed at $166.68

AAPL has been the topic of several recent research reports. Macquarie set a $188.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Friday, January 26th. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Barclays lowered their price target on shares of Apple from $170.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, March 16th. Zacks Investment Research raised shares of Apple from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a research report on Thursday, January 18th. Finally, Piper Jaffray reissued a “buy” rating and set a $200.00 price target on shares of Apple in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $202.52.

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The company has a market cap of $851,317.94, a P/E ratio of 18.10, a P/E/G ratio of 1.27 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.82 by $0.07. The company had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.36 earnings per share. analysts expect that Apple will post 11.37 EPS for the current fiscal year.

In other Apple news, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were 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 $2,401,302.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new position in shares of Apple during the fourth quarter worth approximately $127,691,000. Chemical Bank lifted its holdings in shares of Apple by 0.3% during the fourth quarter. Chemical Bank now owns 92,548 shares of the iPhone maker’s stock worth $15,662,000 after purchasing an additional 299 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Apple by 1.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 942,286 shares of the iPhone maker’s stock worth $159,463,000 after purchasing an additional 13,995 shares during the period. PHH Investments Ltd. lifted its holdings in shares of Apple by 5.9% during the fourth quarter. PHH Investments Ltd. now owns 10,218 shares of the iPhone maker’s stock worth $1,729,000 after purchasing an additional 572 shares during the period. Finally, Certified Advisory Corp acquired a new stake in shares of Apple during the fourth quarter worth $3,158,000. Institutional investors own 61.35% of the company’s stock.

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Apple Company Profile

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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