Investors Buy Apple (AAPL) on Weakness

Investors bought shares of Apple Inc. (NASDAQ:AAPL) on weakness during trading hours on Friday. $1,811.52 million flowed into the stock on the tick-up and $719.10 million flowed out of the stock on the tick-down, for a money net flow of $1,092.42 million into the stock. Of all stocks tracked, Apple had the highest net in-flow for the day. Apple traded down ($0.80) for the day and closed at $178.46

A number of research analysts have weighed in on the company. Nomura set a $185.00 price objective on Apple and gave the company a “buy” rating in a report on Monday, September 25th. KeyCorp upgraded Apple from a “sector weight” rating to an “overweight” rating and raised their price objective for the company from $173.75 to $187.00 in a report on Monday, October 16th. Longbow Research lowered Apple from a “buy” rating to a “neutral” rating in a report on Wednesday. Zacks Investment Research lowered Apple from a “buy” rating to a “hold” rating in a report on Friday. Finally, Sanford C. Bernstein restated a “buy” rating and issued a $175.00 price objective on shares of Apple in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $200.59.

The firm has a market cap of $916,270.00, a price-to-earnings ratio of 19.42, a PEG ratio of 1.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. Apple’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.50 EPS. research analysts forecast that Apple Inc. will post 11.15 earnings per share for the current fiscal year.

In other Apple news, SVP Johny Srouji sold 5,760 shares of Apple stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the transaction, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the transaction, the insider now directly owns 39,682 shares of the company’s stock, valued at $6,839,192.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,412 shares of company stock worth $22,115,155. 0.08% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Plancorp LLC grew its position in shares of Apple by 27.2% during the fourth quarter. Plancorp LLC now owns 18,183 shares of the iPhone maker’s stock worth $3,082,000 after buying an additional 3,890 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Apple by 516.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 36,018 shares of the iPhone maker’s stock worth $6,378,000 after buying an additional 30,178 shares in the last quarter. Ingalls & Snyder LLC acquired a new position in shares of Apple during the fourth quarter worth about $29,116,000. Stokes & Hubbell Capital Management LLC grew its position in shares of Apple by 7.9% during the fourth quarter. Stokes & Hubbell Capital Management LLC now owns 70,698 shares of the iPhone maker’s stock worth $11,964,000 after buying an additional 5,197 shares in the last quarter. Finally, TRUE Private Wealth Advisors grew its position in shares of Apple by 73.4% during the fourth quarter. TRUE Private Wealth Advisors now owns 44,669 shares of the iPhone maker’s stock worth $7,559,000 after buying an additional 18,906 shares in the last quarter. 60.19% of the stock is owned by institutional investors.

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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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