Apple (NASDAQ:AAPL) Trading 0.8% Higher – Here’s Why

Apple Inc. (NASDAQ:AAPL) shares shot up 0.8% during mid-day trading on Monday . The company traded as high as $219.31 and last traded at $219.63. 15,052,957 shares were traded during trading, a decline of 72% from the average session volume of 54,701,281 shares. The stock had previously closed at $217.90.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Argus raised Apple to a “strong-buy” rating in a research report on Friday, January 31st. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a report on Friday, January 31st. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Stock Performance

The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 35.03, a PEG 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. The firm’s 50 day moving average is $230.70 and its 200-day moving average is $233.43.

Apple (NASDAQ:AAPL) last posted its earnings results 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 net margin of 24.30% and a return on equity of 160.83%. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is presently 15.87%.

Institutional Investors Weigh In On Apple

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

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.