Apple Inc. (NASDAQ:AAPL) Short Interest Update

Apple Inc. (NASDAQ:AAPL) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 41,600,000 shares, a drop of 8.6% from the January 15th total of 45,510,000 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 27,500,000 shares, the days-to-cover ratio is currently 1.5 days.

Shares of NASDAQ AAPL opened at $324.95 on Friday. The firm has a market capitalization of $1,421.46 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.04. Apple has a 1 year low of $169.38 and a 1 year high of $327.85. The firm’s 50-day moving average is $310.86 and its 200-day moving average is $254.90.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.45. The company had revenue of $91.80 billion for the quarter, compared to analyst estimates of $88.41 billion. Apple had a net margin of 21.49% and a return on equity of 60.19%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.18 EPS. As a group, equities research analysts anticipate that Apple will post 13.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, February 7th. Apple’s dividend payout ratio (DPR) is presently 25.90%.

AAPL has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of Apple from $340.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley increased their target price on shares of Apple from $296.00 to $368.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Rosenblatt Securities increased their target price on shares of Apple from $150.00 to $250.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Argus reiterated a “buy” rating and set a $350.00 target price (up previously from $300.00) on shares of Apple in a research report on Friday, January 10th. Finally, Loop Capital reiterated a “hold” rating and set a $325.00 target price on shares of Apple in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $314.55.

In related news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.11, for a total transaction of $434,573.19. Following the completion of the sale, the director now owns 1,134,712 shares in the company, valued at approximately $345,077,266.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. MV Capital Management Inc. lifted its stake in Apple by 0.3% in the third quarter. MV Capital Management Inc. now owns 12,671 shares of the iPhone maker’s stock valued at $2,838,000 after buying an additional 35 shares in the last quarter. Investment Partners LTD. lifted its stake in Apple by 0.6% in the fourth quarter. Investment Partners LTD. now owns 5,768 shares of the iPhone maker’s stock valued at $1,694,000 after buying an additional 35 shares in the last quarter. Searcy Financial Services Inc. ADV raised its holdings in shares of Apple by 3.3% in the fourth quarter. Searcy Financial Services Inc. ADV now owns 1,202 shares of the iPhone maker’s stock valued at $353,000 after purchasing an additional 38 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Apple by 0.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 7,053 shares of the iPhone maker’s stock valued at $2,071,000 after purchasing an additional 38 shares during the last quarter. Finally, Concentrum Wealth Management raised its holdings in shares of Apple by 0.4% in the fourth quarter. Concentrum Wealth Management now owns 10,572 shares of the iPhone maker’s stock valued at $3,104,000 after purchasing an additional 40 shares during the last quarter. 60.28% of the stock is currently owned by institutional investors.

About Apple

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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