Traders Buy Shares of Apple (AAPL) on Weakness

Investors bought shares of Apple (NASDAQ:AAPL) on weakness during trading hours on Thursday. $1,790.66 million flowed into the stock on the tick-up and $1,334.38 million flowed out of the stock on the tick-down, for a money net flow of $456.28 million into the stock. Of all companies tracked, Apple had the highest net in-flow for the day. Apple traded down ($2.42) for the day and closed at $168.85

A number of brokerages have commented on AAPL. Barclays dropped their price objective on shares of Apple from $170.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, March 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Apple in a research report on Friday, March 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $205.00 target price on shares of Apple in a research report on Friday, March 9th. BMO Capital Markets downgraded shares of Apple from an “outperform” rating to a “market perform” rating and increased their target price for the company from $162.00 to $166.00 in a research report on Wednesday, January 31st. Finally, Nomura reaffirmed a “neutral” rating and issued a $175.00 target price on shares of Apple in a research report on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the stock. Apple presently has a consensus rating of “Buy” and a consensus target price of $201.69.

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market capitalization of $856,747.19, a PE ratio of 16.95, a PEG ratio of 1.28 and a beta of 1.19.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.82 by $0.07. The company had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.36 earnings per share. analysts predict that Apple will post 11.4 earnings per share for the current year.

In other Apple news, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the completion of the transaction, the insider now owns 13,739 shares in the company, valued at $2,401,302.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. purchased a new stake in Apple in the second quarter valued at approximately $400,000. University of Texas Investment Managment Co. acquired a new position in Apple during the fourth quarter valued at approximately $114,000. FNY Managed Accounts LLC lifted its position in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. Santori & Peters Inc. acquired a new position in shares of Apple during the fourth quarter worth $149,000. Finally, Oak Point Wealth Management acquired a new position in shares of Apple during the fourth quarter worth $163,000. Institutional investors own 61.33% of the company’s stock.

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Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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