Investors Buy Shares of Apple (AAPL) on Weakness

Traders purchased shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading on Friday. $1,393.07 million flowed into the stock on the tick-up and $1,273.12 million flowed out of the stock on the tick-down, for a money net flow of $119.95 million into the stock. Of all stocks tracked, Apple had the 13th highest net in-flow for the day. Apple traded down ($4.02) for the day and closed at $204.47

AAPL has been the subject of several recent analyst reports. New Street Research downgraded Apple from a “neutral” rating to a “sell” rating in a research note on Monday, August 20th. Bank of America raised their target price on Apple from $250.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Morgan Stanley raised their target price on Apple from $245.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, September 13th. Macquarie set a $214.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, August 15th. Finally, Oppenheimer restated a “neutral” rating on shares of Apple in a research note on Monday, October 1st. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $224.27.

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12. The firm has a market capitalization of $1,001.56 billion, a PE ratio of 17.17, a PEG ratio of 1.46 and a beta of 1.26.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.13. Apple had a net margin of 22.41% and a return on equity of 48.68%. The firm had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. During the same quarter last year, the company posted $2.07 earnings per share. Apple’s revenue was up 19.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 13.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be issued a $0.73 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.92 dividend on an annualized basis and a yield of 1.43%. Apple’s dividend payout ratio is currently 24.52%.

In other news, SVP Angela J. Ahrendts sold 14,194 shares of Apple stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the sale, the senior vice president now owns 105,538 shares of the company’s stock, valued at $24,058,442.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Johny Srouji sold 14,140 shares of Apple stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the sale, the insider now directly owns 68,302 shares in the company, valued at approximately $14,683,563.96. The disclosure for this sale can be found here. Insiders sold 480,737 shares of company stock worth $107,157,170 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Financial Inc. increased its stake in shares of Apple by 27.6% during the first quarter. B. Riley Financial Inc. now owns 17,412 shares of the iPhone maker’s stock valued at $2,921,000 after acquiring an additional 3,770 shares during the period. First Hawaiian Bank increased its stake in shares of Apple by 33.5% during the second quarter. First Hawaiian Bank now owns 10,012 shares of the iPhone maker’s stock valued at $1,854,000 after acquiring an additional 2,510 shares during the period. Roof Advisory Group Inc. increased its stake in shares of Apple by 44.0% during the first quarter. Roof Advisory Group Inc. now owns 42,322 shares of the iPhone maker’s stock valued at $7,101,000 after acquiring an additional 12,930 shares during the period. Peavine Capital LLC increased its stake in shares of Apple by 428.7% during the second quarter. Peavine Capital LLC now owns 6,968 shares of the iPhone maker’s stock valued at $1,290,000 after acquiring an additional 5,650 shares during the period. Finally, Nikulski Financial Inc. increased its stake in shares of Apple by 1.6% during the first quarter. Nikulski Financial Inc. now owns 26,051 shares of the iPhone maker’s stock valued at $4,371,000 after acquiring an additional 407 shares during the period. 58.44% of the stock is currently owned by institutional investors.

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Apple Company Profile (NASDAQ:AAPL)

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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