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 companyâ€™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 companyâ€™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 firmâ€™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 Reutersâ€™ consensus estimate of $2.37 by $0.09. The business had revenue of $58.02 billion for the quarter, compared to analystsâ€™ expectations of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. The companyâ€™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 companyâ€™s leadership believes its shares are undervalued.
In other news, COO Jeffrey E. Williams sold 56,411 shares of the companyâ€™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 companyâ€™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 companyâ€™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 makerâ€™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 makerâ€™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 makerâ€™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 â€œoutperformâ€ 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 â‚¬42.00 ($48.84) price target on Alstom and gave the stock a â€œneutralâ€ 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 â€œbuyâ€ rating in a research note on Wednesday, June 5th. Finally, Maxim Group restated a â€œbuyâ€ 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 â€œHoldâ€ 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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