Apple (NASDAQ:AAPL) Stock Price Up 1.2% – Here’s Why

Shares of Apple Inc. (NASDAQ:AAPL) were up 1.2% during trading on Tuesday . The stock traded as high as $223.46 and last traded at $223.44. Approximately 10,503,477 shares traded hands during trading, a decline of 80% from the average daily volume of 52,661,948 shares. The stock had previously closed at $220.73.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. Citigroup lifted their target price on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Maxim Group upped their price target on Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Friday, January 31st. Finally, Moffett Nathanson reaffirmed a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Price Performance

The stock has a market cap of $3.35 trillion, a price-to-earnings ratio of 35.41, a PEG ratio of 2.44 and a beta of 1.18. The company has a 50 day simple moving average of $231.54 and a 200-day simple moving average of $233.41. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

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

Apple Dividend Announcement

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

Hedge Funds Weigh In On Apple

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. High Net Worth Advisory Group LLC lifted its position in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares during the last quarter. Amara Financial LLC. acquired a new stake in shares of Apple in the third quarter valued at approximately $288,000. Sterling Investment Counsel LLC raised its holdings in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners boosted its position in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after buying an additional 28,799 shares during the period. Finally, Catalyst Financial Partners LLC grew its holdings in Apple by 4.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock worth $22,505,000 after buying an additional 3,935 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.