Apple Inc. (NASDAQ:AAPL) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 47,003,500 shares, a drop of 8.3% from the May 15th total of 51,257,100 shares. Approximately 1.0% of the companyâ€™s stock are sold short. Based on an average daily trading volume, of 28,470,000 shares, the days-to-cover ratio is currently 1.7 days.
Several analysts recently weighed in on AAPL shares. Maxim Group reissued a â€œbuyâ€ rating on shares of Abeona Therapeutics in a report on Wednesday, May 1st. Citigroup set a $73.00 price target on Esperion Therapeutics and gave the stock a â€œbuyâ€ rating in a report on Tuesday, May 28th. Jefferies Financial Group lifted their price target on EXACT Sciences from $100.00 to $115.00 and gave the stock a â€œbuyâ€ rating in a report on Wednesday, May 1st. BTIG Research lifted their price target on Apple to $234.00 and gave the stock a â€œbuyâ€ rating in a report on Wednesday, May 1st. Finally, Goldman Sachs Group set a â‚¬100.00 ($116.28) price objective on Henkel AG & Co KGaA and gave the company a â€œbuyâ€ rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Apple currently has a consensus rating of â€œHoldâ€ and an average target price of $210.82.
Shares of AAPL stock traded down $3.07 during trading on Friday, hitting $202.59. The companyâ€™s stock had a trading volume of 20,896,804 shares, compared to its average volume of 20,307,304. The company has a market cap of $932.13 billion, a P/E ratio of 17.01, a PEG ratio of 1.72 and a beta of 1.23. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The businessâ€™s fifty day moving average is $196.31. Apple has a 52 week low of $142.00 and a 52 week high of $233.47.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.09. Apple had a return on equity of 51.29% and a net margin of 22.12%. The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $57.40 billion. During the same period in the prior year, the company earned $2.73 earnings per share. Appleâ€™s revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Apple will post 11.47 EPS for the current fiscal year.
Apple declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 30th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the companyâ€™s management believes its shares are undervalued.
In other news, COO Jeffrey E. Williams sold 56,411 shares of Apple stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the completion of the transaction, the chief operating officer now directly owns 151,187 shares in the company, valued at approximately $31,803,697.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on 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 owns 1,168,283 shares of the companyâ€™s stock, valued at $246,344,153.38. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Semmax Financial Advisors Inc. purchased a new stake in Apple during the fourth quarter valued at about $50,000. NuWave Investment Management LLC raised its position in Apple by 2,245.0% during the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone makerâ€™s stock valued at $93,000 after purchasing an additional 449 shares in the last quarter. Contravisory Investment Management Inc. raised its position in 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 in the last quarter. INR Advisory Services LLC purchased a new stake in Apple during the fourth quarter valued at about $124,000. Finally, CKW Financial Group raised its position in Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone makerâ€™s stock valued at $127,000 after purchasing an additional 105 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.
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.
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