Apple (NASDAQ:AAPL) Stock Price Up 0.4% – Here’s Why

Apple Inc. (NASDAQ:AAPL)’s stock price shot up 0.4% on Tuesday . The stock traded as high as $223.39 and last traded at $222.93. 11,738,984 shares traded hands during trading, a decline of 78% from the average session volume of 52,251,535 shares. The stock had previously closed at $222.13.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Redburn Partners set a $230.00 price target on shares of Apple in a report on Friday, January 31st. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price objective on shares of Apple in a report on Monday, January 27th. Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. Finally, UBS Group upped their target price on Apple to $236.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Trading Up 0.4 %

The company’s 50-day moving average is $230.54 and its 200-day moving average is $233.42. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.44 and a beta of 1.18.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors 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 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is currently 15.87%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Drystone LLC acquired a new position in Apple during the 4th quarter worth about $25,000. Bull Oak Capital LLC increased its holdings in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. Life Planning Partners Inc acquired a new stake in Apple in the fourth quarter valued at $47,000. Conquis Financial LLC purchased a new stake in Apple during the 4th quarter worth about $63,000. Finally, LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth about $65,000. Hedge funds and other 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.