Investors Buy Shares of Apple (AAPL) on Weakness

Traders purchased shares of Apple (NASDAQ:AAPL) on weakness during trading hours on Thursday. $1,304.30 million flowed into the stock on the tick-up and $1,054.05 million flowed out of the stock on the tick-down, for a money net flow of $250.25 million into the stock. Of all stocks tracked, Apple had the 5th highest net in-flow for the day. Apple traded down ($5.04) for the day and closed at $172.80

A number of equities analysts have commented on AAPL shares. Bank of America cut Apple from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $180.00 to $220.00 in a research note on Wednesday, January 17th. Cascend Securities lifted their price target on Apple from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Morgan Stanley reaffirmed a “buy” rating and issued a $205.00 price target (up from $200.00) on shares of Apple in a research note on Tuesday, January 23rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Apple in a research note on Friday, January 19th. Finally, Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Apple presently has an average rating of “Buy” and a consensus target price of $203.21.

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The firm has a market cap of $904,392.13, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.25. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.74.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. The firm had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.36 earnings per share. equities analysts predict that Apple will post 11.37 EPS for the current fiscal year.

In related news, insider Philip W. Schiller sold 69,491 shares of the company’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total transaction of $11,564,692.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luca Maestri sold 39,122 shares of the company’s stock in a transaction on Friday, April 13th. The shares were sold at an average price of $174.66, for a total value of $6,833,048.52. Following the sale, the insider now owns 64,475 shares of the company’s stock, valued at approximately $11,261,203.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,988 shares of company stock valued at $21,336,201. 0.08% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Beach Investment Management LLC. grew its position in shares of Apple by 1,517.7% during the second quarter. Beach Investment Management LLC. now owns 178,109 shares of the iPhone maker’s stock worth $25,651,000 after purchasing an additional 167,099 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Apple by 39.8% during the second quarter. Catalyst Capital Advisors LLC now owns 69,900 shares of the iPhone maker’s stock worth $10,067,000 after purchasing an additional 19,900 shares in the last quarter. IFC Holdings Incorporated FL grew its position in shares of Apple by 1.1% during the second quarter. IFC Holdings Incorporated FL now owns 85,072 shares of the iPhone maker’s stock worth $12,224,000 after purchasing an additional 885 shares in the last quarter. Wedbush Securities Inc. grew its position in shares of Apple by 3.6% during the second quarter. Wedbush Securities Inc. now owns 156,649 shares of the iPhone maker’s stock worth $22,561,000 after purchasing an additional 5,435 shares in the last quarter. Finally, Berkeley Capital Partners LLC grew its position in shares of Apple by 0.6% during the second quarter. Berkeley Capital Partners LLC now owns 4,369 shares of the iPhone maker’s stock worth $629,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 61.35% of the company’s stock.

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About Apple

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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