Apple (NASDAQ:AAPL) Shares Down 1.6% – Should You Sell?

Apple Inc. (NASDAQ:AAPL) was down 1.6% during trading on Friday . The stock traded as low as $219.62 and last traded at $220.34. Approximately 11,014,024 shares traded hands during trading, a decline of 79% from the average daily volume of 52,235,921 shares. The stock had previously closed at $223.85.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price objective on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup increased their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Sanford C. Bernstein lifted their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Stock Performance

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 company has a fifty day moving average price of $230.70 and a 200 day moving average price of $233.35. The stock has a market cap of $3.27 trillion, a PE ratio of 34.59, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly 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 return on equity of 160.83% and a net margin of 24.30%. Analysts expect that Apple Inc. will post 7.28 earnings per share for the current 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 given a dividend of $0.25 per share. 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%.

Hedge Funds Weigh In On Apple

Hedge funds have recently modified their holdings of the company. Drystone LLC bought a new position in Apple during the 4th quarter valued at approximately $25,000. Bull Oak Capital LLC increased its stake in shares of Apple by 252.3% during 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 period. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management purchased a new stake in Apple in the fourth quarter worth $65,000. Finally, SPX Gestao de Recursos Ltda purchased a new stake in Apple in the third quarter worth $71,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Apple

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.