Apple Inc. (NASDAQ: AAPL) Has Another Chance To Impress You


BlackRock Fund Advisors recently announced the acquisition of new stake in Apple Inc. (NASDAQ:AAPL). The institutional investor has increased its shareholding in the Technology company by 0.04% to 187.43 million shares with purchase of 75775.0 shares. This fresh investment now brings its stake to 4.32% valued currently at $79.67 billion. In addition, Fidelity Management & Research Co. raised its holdings by 2.57 million to 88.02 million shares. And T. Rowe Price Associates, Inc. (I. has lifted its position by 3.68% or 2.07 million shares – to 58.27 million shares.

With over 85.89 million Apple Inc. (AAPL) shares trading Monday and a closing price of $503.43 on the day, the dollar volume was approximately $43.24 billion. The shares have shown a positive weekly performance of 9.82% and its price on 08/24/20 gained nearly 1.20%. Currently, there are 4.31B common shares owned by the public and among those 4.27B shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 41 analysts who have offered their price forecasts for AAPL have a consensus price objective of $430.27. The analysts have set the share’s price value over the next 12 months at a high of $520.00 and a low of $314.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Apple Inc. stock is 2.20 for the next 12 months. The average price target is -18.41% below its last price level and a downside to the estimated low will see the stock lose -60.33% over that period. But an upside of 3.19% will see the stock hit the forecast high price target while mean target price for the stock is $450.00.

Insiders at the company have transacted a total of 64 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 586,221 shares. Insider sales of the common stock occurred on 46 occasions, with total insider shares sold totaling 802,895 shares.

The top 3 mutual fund holders in Apple Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Government Pension Fund – Global. Vanguard Total Stock Market Index owns 110.88 million shares of the company’s stock, all valued at over $47.13 billion. The company sold -0.31 million shares recently to bring their total holdings to about 2.56% of the shares outstanding. Vanguard 500 Index Fund sold -0.51 million shares to see its total holdings shrink to 84.02 million shares valued at over $35.71 billion and representing 1.94% of the shares outstanding. Government Pension Fund – Global sold -0.6 million shares to bring its total holdings to over 45.33 million shares at a value of $19.27 billion. Government Pension Fund – Global now owns shares totaling to 1.05% of the shares outstanding.

Shares of Apple Inc. (NASDAQ: AAPL) opened at $514.79, up $17.31 from a prior closing price of $497.48. However, the script later closed the day at $503.43, up 1.20%. The company’s stock has a 5-day price change of 9.82% and 58.95% over the past three months. AAPL shares are trading 71.44% year to date (YTD), with the 12-month market performance up to 148.44% higher. It has a 12-month low price of $201.00 and touched a high of $499.47 over the same period. Currently, 85.89 million shares have been traded, compared to an average intraday trading volume of 37.71 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.79%, 26.77%, and 59.08% respectively.

Institutional ownership of Apple Inc. (NASDAQ: AAPL) shares accounts for 62.30% of the company’s 4.31B shares outstanding. Mutual fund holders own 28.93%, while other institutional holders and individual stakeholders account for 31.99% and 1.10% respectively.

It has a market capitalization of $2047.00B and a beta (3y monthly) value of 1.23. The stock’s trailing 12-month PE ratio is 38.26, while the earnings-per-share (ttm) stands at $13.16. The company has a PEG of 3.07 and a Quick Ratio of 1.40 with the debt-to-equity ratio at 1.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.80% over the week and 2.66% over the month.

Analysts forecast that Apple Inc. (AAPL) will achieve an EPS of $2.8 for the current quarter, $5.45 for the next quarter and $15.52 for 2021. The lowest estimate earnings-per-share for the quarter is $2.18 while analysts give the company a high EPS estimate of $3.19. Comparatively, EPS for the current quarter was $3.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.60%, and 19.67% over the next financial year. EPS should shrink at an annualized rate of 12.46% over the next five years, compared to 13.00% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 41 brokerage firm advisors rate Apple Inc. (AAPL) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 22 Wall Street analysts polled rate the stock as a buy, while 12 of the 41 advise that investors “hold,” and 3 rated it as a “Sell.”

Looking at the support for the AAPL, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on August 24, 2020, with the firm’s price target at $431-$520. Wedbush coverage for the Apple Inc. (AAPL) stock in a research note released on August 10, 2020 offered a Outperform rating with a price target of $515. BofA Securities was of a view on August 05, 2020 that the stock is Neutral, while Wedbush gave the stock Outperform rating on July 31, 2020, issuing a price target of $450- $475. UBS on their part issued Buy rating on July 31, 2020.


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