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Apple Inc. (NASDAQ:AAPL) Short Interest Down 8.3% in June – jj
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Apple Inc. (NASDAQ:AAPL) Short Interest Down 8.3% in June

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Apple Inc. (NASDAQ:AAPL) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 47,003,500 shares, a decline of 8.3% from the May 15th total of 51,257,100 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 28,470,000 shares, the short-interest ratio is presently 1.7 days.

Shares of NASDAQ:AAPL traded up $1.55 during trading on Friday, hitting $203.30. The company’s stock had a trading volume of 17,587,122 shares, compared to its average volume of 21,233,328. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85. Apple has a fifty-two week low of $142.00 and a fifty-two week high of $233.47. The firm’s 50-day simple moving average is $192.74. The stock has a market capitalization of $935.40 billion, a P/E ratio of 17.07, a PEG ratio of 1.71 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.09. The business had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.73 earnings per share. Equities research analysts forecast that Apple will post 11.47 EPS for the current year.

Apple announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other news, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the transaction, the chief operating officer now owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Semmax Financial Advisors Inc. bought a new position in shares of Apple during the fourth quarter valued at approximately $50,000. Contravisory Investment Management Inc. grew its holdings in shares of Apple by 30.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after purchasing an additional 144 shares during the last quarter. INR Advisory Services LLC acquired a new position in shares of Apple during the fourth quarter worth approximately $124,000. CKW Financial Group boosted its position in shares of Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock worth $127,000 after buying an additional 105 shares during the period. Finally, Denali Advisors LLC boosted its position in shares of Apple by 12.5% during the second quarter. Denali Advisors LLC now owns 900 shares of the iPhone maker’s stock worth $178,000 after buying an additional 100 shares during the period. 58.54% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the company. Evercore ISI assumed coverage on Helmerich & Payne in a report on Thursday, June 6th. They set an “outperform” rating on the stock. Morgan Stanley upped their price target on Intact Financial from C$125.00 to C$128.00 in a report on Thursday, May 30th. Deutsche Bank set a €42.00 ($48.84) price target on Alstom and gave the stock a “neutral” rating in a research note on Tuesday, June 25th. Daiwa Capital Markets set a $212.00 price target on Apple and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Finally, Maxim Group restated a “buy” rating on shares of Abeona Therapeutics in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $209.27.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Further Reading: How are institutional investors different from individual investors?



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