Apple Inc. (NASDAQ:AAPL) Short Interest Update

Apple Inc. (NASDAQ:AAPL) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 45,510,000 shares, a drop of 10.3% from the December 15th total of 50,750,000 shares. Based on an average daily trading volume, of 26,330,000 shares, the short-interest ratio is presently 1.7 days. Approximately 1.0% of the shares of the company are short sold.

Shares of Apple stock opened at $312.68 on Wednesday. The firm has a market cap of $1,360.50 billion, a PE ratio of 26.30, a PEG ratio of 2.25 and a beta of 1.25. Apple has a 1 year low of $150.05 and a 1 year high of $317.57. The company has a 50 day simple moving average of $283.66 and a two-hundred day simple moving average of $237.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the consensus estimate of $2.84 by $0.19. The firm had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. Apple had a net margin of 21.24% and a return on equity of 53.82%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $2.91 earnings per share. As a group, research analysts anticipate that Apple will post 13.15 earnings per share for the current year.

A number of analysts recently issued reports on the stock. Tigress Financial restated a “buy” rating on shares of Apple in a report on Monday, December 30th. DZ Bank lowered shares of Apple to a “hold” rating in a research report on Friday, January 3rd. BidaskClub upgraded shares of Apple from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 27th. Macquarie lowered shares of Apple from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, Goldman Sachs Group set a $192.00 target price on shares of Apple and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $274.36.

In related news, Director Arthur D. Levinson sold 37,394 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the sale, the director now owns 1,170,677 shares in the company, valued at $301,788,823.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.05% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Kahn Brothers Group Inc. DE purchased a new position in shares of Apple during the third quarter worth approximately $112,000. Belvedere Advisors LLC purchased a new position in shares of Apple during the second quarter worth approximately $119,000. Fulcrum Equity Management purchased a new position in shares of Apple during the third quarter worth approximately $135,000. Poplar Forest Capital LLC purchased a new position in shares of Apple in the third quarter worth $205,000. Finally, S&T Bank PA purchased a new position in shares of Apple in the second quarter worth $207,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

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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