Apple Inc. (NASDAQ:AAPL) finished Thursday with a subtraction of -$4.74 to close at $176.38, a downside of -2.62 percent. An average of 51,447,301 shares of common stock have been traded in the last five days. There was a gain of $2.38 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 57,052,461 shares traded, while the 50-day average volume stands at 55,194,539.
AAPL stock has decreased by -9.32% in the last month. The company shares reached their 1-month lowest point of $171.96 on 08/18/23. With the stock rallying to its 52-week high on 07/19/23, shares of the company touched a low of $124.17 and a high of $198.23 in 52 weeks. It has reached a new high 44 times so far this year and achieved 35.75% or $46.45 in price. In spite of this, the price is down -11.02% from the 52-week high.
Insider Transactions
AAPL stock investors should be aware that Apple Inc. (AAPL) stock had its last reported insider trading activity 18 days ago on Aug 07. In this transaction, the insider spent $2,753,217. Principal Accounting Officer, KONDO CHRIS, disposed of 4,092 shares at a price of $173.26 on May 08. The insider now owns more than $708,980 worth of shares. Prior to that, Senior Vice President, CFO Maestri Luca went on to Sale 69,996 shares at $165.25 each on Apr 13. An amount of $11,566,839 was transacted.
Valuation Metrics
Apple Inc. (AAPL) has a trailing price-to-earnings (P/E) ratio of 29.64. The stock’s beta is 1.28. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.16, the price-to-book (PB) ratio at 45.93, and the price-to-cash flow ratio at 27.23.
The company has a payout ratio of 15.60%. The company’s most recent quarterly dividend payment was $0.24 a share, without any change from last year. Its latest increase dividend $0.01 reported on Thursday May 4 2023.
Financial Health
The quick ratio of Apple Inc. for the three months ended June 29 was 0.90, and the current ratio was 1.00, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.63 and a total debt to equity ratio of 1.81 for the quarter ending June 29. Apple Inc.’s EBITDA margin for the year ending June 29 is 33.10%, while its operating margin for the same period stands at 29.20%. Its gross profit as reported stood at $170.78 billion compared to revenue of $394.33 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Apple Inc.’s return on assets was 27.70%.
Earnings Surprise
For the three-month period that ended June 29, Apple Inc. had $98.07 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $19.88 billion in the quarter, while revenues of $24.16 billion were grew 2.21%. The analyst consensus anticipated Apple Inc.’s latest quarter earnings to come in at $1.19 per share, but it turned out to be $1.26, a 5.90% surprise. For the quarter, EBITDA amounted to $26.05 billion. Shareholders own equity worth $15.63 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Apple Inc. (AAPL) price momentum. RSI 9-day as of the close on 24 August was 39.39%, suggesting the stock is Neutral, with historical volatility in this time frame at 22.13%.
As of today, AAPL’s price is $177.01 +1.37% or $2.38 from its 5-day moving average. AAPL is currently trading -8.72% lower than its 20-day SMA and +6.96% higher than its 100-day SMA. However, the stock’s current price level is -3.78% below the SMA50 and +27.46% above the SMA200.
The stochastic %K and %D were 41.60% and 31.05%, respectively, and the average true range (ATR) was 3.33. With the 14-day stochastic at 39.57% and the average true range at 3.25, the RSI (14) stands at 39.01%. The stock has reached 1.29 on the 9-day MACD Oscillator while the 14-day reading was at 0.73.
Analyst Ratings
Wedbush reiterated its an Outperform rating on Apple Inc. (NASDAQ: AAPL), but raised their price target to $220, indicating a potential price increase of 19.83% for the stock. The consensus rating for Apple Inc. (AAPL) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell AAPL, while 14 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 25 others rate it as a “buy”.
What is AAPL’s price target for the next 12 months?
Analysts predict a range of price targets between $160.00 and $240.00, with a median target of $200.00. Taking a look at these predictions, the average price target given by analysts for Apple Inc. (AAPL) stock is $201.78.
