Apple (NASDAQ:AAPL) Trading Up 0.9% – Here’s Why

Apple Inc. (NASDAQ:AAPL)’s stock price shot up 0.9% on Monday . The stock traded as high as $221.03 and last traded at $220.25. 11,228,381 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 52,543,055 shares. The stock had previously closed at $218.27.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AAPL shares. Barclays boosted their price target on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Redburn Partners set a $230.00 price target on Apple in a report on Friday, January 31st. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research report on Tuesday, January 21st. Finally, Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Stock Performance

The stock’s 50-day moving average price is $231.82 and its 200-day moving average price is $233.42. The company has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (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 expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.46%. Apple’s payout ratio is currently 15.87%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. High Net Worth Advisory Group LLC grew its position in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the period. Amara Financial LLC. purchased a new stake in shares of Apple during the 3rd quarter worth about $288,000. Sterling Investment Counsel LLC increased its position in Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares in the last quarter. Silicon Valley Capital Partners raised its holdings in Apple by 12.8% in the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after buying an additional 28,799 shares during the period. Finally, Catalyst Financial Partners LLC lifted its position in Apple by 4.2% during the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after buying an additional 3,935 shares in the last quarter. Institutional investors and hedge funds 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.