Todays Report: Today: Short Interest in Apple Inc. (AAPL) Drops By 18.7%

Today: Short Interest in Apple Inc. (AAPL) Drops By 18.7%

Apple Inc. (NASDAQ:AAPL) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 44,470,748 shares, a decrease of 18.7% from the October 31st total of 54,677,311 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 38,274,381 shares, the days-to-cover ratio is currently 1.2 days.

A number of analysts recently commented on AAPL shares. Credit Suisse Group AG reiterated an “outperform” rating and set a $150.00 price objective on shares of Apple in a research report on Thursday, September 15th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $124.00 price objective on shares of Apple in a research report on Wednesday, October 12th. Citigroup Inc. upped their price objective on Apple from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 30th. Vetr cut Apple from a “hold” rating to a “sell” rating and set a $105.47 price objective for the company. in a research report on Monday, August 15th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $125.00 price objective on shares of Apple in a research report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and an average price target of $128.29.

In other news, CEO Timothy D. Cook sold 110,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total transaction of $11,654,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 49,883 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $106.19, for a total value of $5,297,075.77. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in Apple by 13.9% in the first quarter. Franklin Resources Inc. now owns 14,170,724 shares of the iPhone maker’s stock valued at $1,544,480,000 after buying an additional 1,726,014 shares in the last quarter. Institutional Capital LLC raised its position in shares of Apple by 2.5% in the first quarter. Institutional Capital LLC now owns 4,129,279 shares of the iPhone maker’s stock valued at $450,050,000 after buying an additional 100,706 shares during the period. BlackRock Group LTD raised its position in shares of Apple by 3.3% in the first quarter. BlackRock Group LTD now owns 47,324,047 shares of the iPhone maker’s stock valued at $5,157,847,000 after buying an additional 1,498,288 shares during the period. Stearns Financial Services Group raised its position in shares of Apple by 13.4% in the first quarter. Stearns Financial Services Group now owns 26,821 shares of the iPhone maker’s stock valued at $2,923,000 after buying an additional 3,163 shares during the period. Finally, Bristlecone Advisors LLC raised its position in shares of Apple by 8.0% in the first quarter. Bristlecone Advisors LLC now owns 87,201 shares of the iPhone maker’s stock valued at $9,504,000 after buying an additional 6,459 shares during the period. Hedge funds and other institutional investors own 56.81% of the company’s stock.

Shares of Apple (NASDAQ:AAPL) opened at 111.79 on Monday. Apple has a 52-week low of $89.47 and a 52-week high of $119.86. The stock has a 50 day moving average of $113.06 and a 200 day moving average of $105.31. The company has a market cap of $596.10 billion, a P/E ratio of 13.45 and a beta of 1.34.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.01. The firm had revenue of $46.85 billion for the quarter, compared to analyst estimates of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 EPS. On average, equities analysts anticipate that Apple will post $9.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.57 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $2.28 annualized dividend and a yield of 2.04%. Apple’s dividend payout ratio is presently 27.57%.

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