Apple (NASDAQ:AAPL) Stock Price Down 0% – Here’s What Happened

Apple Inc. (NASDAQ:AAPL) shares traded down 0% on Wednesday . The stock traded as low as $222.84 and last traded at $223.65. 9,755,731 shares were traded during trading, a decline of 81% from the average session volume of 52,395,983 shares. The stock had previously closed at $223.75.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Citigroup boosted their price target on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Bank of America raised their price objective on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Redburn Partners set a $230.00 target price on shares of Apple in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Stock Performance

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business’s fifty day moving average price is $230.94 and its 200-day moving average price is $233.28. The stock has a market cap of $3.36 trillion, a PE ratio of 35.33, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS 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%. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 15.87%.

Hedge Funds Weigh In On Apple

Several institutional investors have recently made changes to their positions in AAPL. AMF Tjanstepension AB raised its holdings in Apple by 21.1% during the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after acquiring an additional 588,427 shares during the period. TL Private Wealth grew its position in shares of Apple by 3.9% during the third quarter. TL Private Wealth now owns 3,583 shares of the iPhone maker’s stock worth $794,000 after purchasing an additional 133 shares in the last quarter. Kelly Financial Services LLC raised its stake in Apple by 2.3% during the 3rd quarter. Kelly Financial Services LLC now owns 17,147 shares of the iPhone maker’s stock valued at $3,995,000 after purchasing an additional 382 shares during the period. Morton Capital Management LLC CA lifted its holdings in Apple by 4.3% in the 3rd quarter. Morton Capital Management LLC CA now owns 66,499 shares of the iPhone maker’s stock worth $15,494,000 after purchasing an additional 2,719 shares in the last quarter. Finally, Cypress Wealth Services LLC boosted its stake in Apple by 0.6% in the 3rd quarter. Cypress Wealth Services LLC now owns 133,518 shares of the iPhone maker’s stock worth $31,110,000 after purchasing an additional 817 shares during the period. 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.