Investors Buy Apple (AAPL) on Weakness

Investors purchased shares of Apple (NASDAQ:AAPL) on weakness during trading hours on Thursday. $1,304.30 million flowed into the stock on the tick-up and $1,054.05 million flowed out of the stock on the tick-down, for a money net flow of $250.25 million into the stock. Of all companies tracked, Apple had the 5th highest net in-flow for the day. Apple traded down ($5.04) for the day and closed at $172.80

Several equities research analysts have recently weighed in on AAPL shares. Macquarie set a $188.00 target price on shares of Apple and gave the stock a “buy” rating in a report on Friday, January 26th. ValuEngine upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Barclays reduced 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 upgraded 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 reiterated a “buy” rating and set a $200.00 price target on shares of Apple in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $203.15.

The company has a market capitalization of $876,789.50, a price-to-earnings ratio of 17.99, a P/E/G ratio of 1.31 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.82 by $0.07. The company had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $3.36 EPS. equities analysts predict that Apple will post 11.35 EPS for the current year.

In related news, SVP Daniel J. Riccio sold 17,375 shares of the firm’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $169.12, for a total value of $2,938,460.00. Following the completion of the transaction, the senior vice president now directly owns 66,191 shares of the company’s stock, valued at $11,194,221.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip W. Schiller sold 69,491 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total transaction of $11,564,692.22. The disclosure for this sale can be found here. Insiders have sold a total of 125,988 shares of company stock valued at $21,336,201 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AAPL. ADAMCAPITAL Gestao de Recursos Ltda. acquired a new stake in Apple during the 4th quarter valued at $127,691,000. Chemical Bank lifted its holdings in Apple by 0.3% during the 4th quarter. Chemical Bank now owns 92,548 shares of the iPhone maker’s stock valued at $15,662,000 after purchasing an additional 299 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Apple by 1.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 942,286 shares of the iPhone maker’s stock valued at $159,463,000 after purchasing an additional 13,995 shares during the last quarter. PHH Investments Ltd. lifted its holdings in Apple by 5.9% during the 4th quarter. PHH Investments Ltd. now owns 10,218 shares of the iPhone maker’s stock valued at $1,729,000 after purchasing an additional 572 shares during the last quarter. Finally, Certified Advisory Corp acquired a new stake in Apple during the 4th quarter valued at $3,158,000. 61.35% of the stock is owned by institutional investors and hedge funds.

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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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