Apple Inc. (NASDAQ:AAPL) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 54,716,456 shares, a drop of 9.0% from the September 15th total of 60,135,782 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 39,761,161 shares, the short-interest ratio is currently 1.4 days.
AAPL has been the subject of a number of analyst reports. Drexel Hamilton reaffirmed a “buy” rating and set a $185.00 price objective on shares of Apple in a research report on Wednesday, September 14th. Piper Jaffray Cos. raised Apple to an “overweight” rating and set a $151.00 target price for the company in a report on Friday, September 16th. Morgan Stanley reissued an “overweight” rating and issued a $124.00 target price on shares of Apple in a report on Friday, October 14th. Canaccord Genuity reissued a “buy” rating and issued a $140.00 target price (up previously from $120.00) on shares of Apple in a report on Monday, September 12th. Finally, Pacific Crest lifted their target price on Apple from $121.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, October 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, forty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $127.11.
In related news, SVP D Bruce Sewell sold 23,305 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $107.49, for a total transaction of $2,505,054.45. Following the completion of the transaction, the senior vice president now owns 239,329 shares of the company’s stock, valued at approximately $25,725,474.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Daniel J. Riccio sold 49,996 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total value of $5,297,076.20. Following the transaction, the senior vice president now directly owns 67,143 shares of the company’s stock, valued at approximately $7,113,800.85. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors have recently made changes to their positions in AAPL. Cohen & Steers Inc. boosted its position in shares of Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock valued at $999,482,000 after buying an additional 22,303,795 shares during the last quarter. Magellan Asset Management Ltd boosted its position in shares of Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock valued at $1,462,120,000 after buying an additional 5,543,465 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock valued at $974,714,000 after buying an additional 4,755,361 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Apple during the first quarter valued at approximately $325,287,000. Finally, Franklin Resources Inc. boosted its position in shares of Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock valued at $1,627,849,000 after buying an additional 2,857,040 shares during the last quarter. 56.41% of the stock is currently owned by institutional investors.
Shares of Apple (NASDAQ:AAPL) opened at 117.47 on Wednesday. The firm has a market cap of $632.98 billion, a price-to-earnings ratio of 13.70 and a beta of 1.22. Apple has a 52-week low of $89.47 and a 52-week high of $123.82. The stock has a 50 day moving average of $112.17 and a 200 day moving average of $103.69.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The company had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. Equities analysts predict that Apple will post $8.26 EPS for the current fiscal year.
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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