Apple Inc. (NASDAQ:AAPL – Get Free Report) traded up 1.8% during trading on Monday . The company traded as high as $297.78 and last traded at $296.42. 45,258,439 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 47,783,438 shares. The stock had previously closed at $291.13.
More Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple’s iOS 27 and Siri updates suggest its AI strategy is taking shape, which could help reassure investors looking for stronger AI execution and support the stock’s recent strength. Apple’s AI Plans Are Finally Taking Shape. Here’s What That Means for AAPL Stock.
- Positive Sentiment: Reports that iOS 27 makes older iPhones run faster and last longer could encourage users to keep devices longer, while still reinforcing Apple’s software advantage and Services ecosystem. How Apple Is Making Your Older iPhone Run Faster and Stay Alive Longer – WIRED
- Positive Sentiment: Wall Street commentary remains broadly constructive, with analyst targets clustered above the current trading range and several firms reiterating buy/outperform views. Is Apple (AAPL) a Buy as Wall Street Analysts Look Optimistic?
Wall Street Analyst Weigh In
AAPL has been the topic of a number of recent analyst reports. Wells Fargo & Company reissued an “overweight” rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Citigroup reissued a “buy” rating on shares of Apple in a research note on Monday, June 1st. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. DA Davidson reissued a “neutral” rating and issued a $270.00 price objective on shares of Apple in a research note on Friday, May 1st. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $276.00 price objective on shares of Apple in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.59.
Apple Trading Up 1.8%
The business has a 50 day moving average of $285.64 and a two-hundred day moving average of $272.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market capitalization of $4.35 trillion, a price-to-earnings ratio of 35.84, a P/E/G ratio of 2.53 and a beta of 1.09.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the business earned $1.65 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 8.75 EPS for the current year.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 13.06%.
Insider Transactions at Apple
In related news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 97,759 shares of company stock valued at $24,964,305 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.
Institutional Trading of Apple
Several institutional investors and hedge funds have recently modified their holdings of the stock. Sellwood Investment Partners LLC raised its stake in shares of Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 71 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple in the fourth quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Timmons Wealth Management LLC purchased a new stake in shares of Apple in the fourth quarter worth approximately $69,000. Finally, LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter worth approximately $65,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
About Apple
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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