Apple (NASDAQ:AAPL) Shares Up 2.9% – Time to Buy?

Apple Inc. (NASDAQ:AAPL)’s share price traded up 2.9% on Tuesday . The company traded as high as $310.94 and last traded at $315.2030. 48,774,310 shares were traded during trading, an increase of 8% from the average session volume of 45,068,552 shares. The stock had previously closed at $306.31.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Shares hit an all-time high as expectations build for Apple’s developer conference, where new AI capabilities and Siri enhancements could be unveiled. Apple Stock (AAPL) Hits All-Time High Ahead of Highly-Anticipated Developer Conference
• Positive Sentiment: Analysts have been raising price targets into WWDC, reflecting confidence that Apple could surprise with a stronger AI story than the market expected. Apple Stock (AAPL) Hits All-Time High Ahead of Highly-Anticipated Developer Conference
• Positive Sentiment: Apple’s MacBook Neo is reportedly gaining traction with new buyers, suggesting the company is expanding demand beyond its traditional customer base. Apple’s MacBook Neo is winning over a new generation of buyers
• Positive Sentiment: Reports of upcoming Wallet/Apple Cash bill-splitting features and other AI-enabled product upgrades support the view that Apple can keep adding monetizable services inside its ecosystem. Apple Set to Accelerate Wallet War With Automated Bill Splitting
• Neutral Sentiment: Commentary questioning whether Apple is already fully valued above $300 may limit upside if WWDC disappoints, but it has not changed the current bullish momentum. Buy, Hold, or Sell: Apple Over $300?
• Neutral Sentiment: Apple continues to face competitive pressure from Walmart’s payment ambitions, Dell’s MacBook challenger, and Nvidia’s push into AI PCs, but these developments are more about long-term rivalry than an immediate earnings hit. Walmart Targets Tech Rival Apple as Payment App OnePay Doubles User Numbers

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley reissued an “overweight” rating on shares of Apple in a research note on Monday. Rosenblatt Securities upped their price objective on Apple from $268.00 to $276.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a report on Wednesday, March 4th. Wedbush restated an “outperform” rating and set a $400.00 price objective (up from $350.00) on shares of Apple in a report on Friday, May 8th. Finally, Jefferies Financial Group set a $330.00 price objective on Apple in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $310.31.

Apple Trading Up 2.9%

The stock has a market capitalization of $4.63 trillion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a fifty day moving average of $276.58 and a 200-day moving average of $270.28.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the firm earned $1.65 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.3%. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is currently 13.06%.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Apple

Large investors have recently modified their holdings of the business. Sellwood Investment Partners LLC grew its stake in shares of Apple by 110.9% during the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock valued at $34,000 after acquiring an additional 71 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new stake in shares of Apple during the fourth quarter valued at about $41,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Timmons Wealth Management LLC acquired a new stake in shares of Apple during the fourth quarter valued at about $69,000. Finally, LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter valued at about $65,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

About Apple

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.