Jefferies has recently reduced Apple Inc (AAPL) stock to Hold rating, as announced on October 7, 2024, according to Finviz. Earlier, on August 19, 2024, MoffettNathanson had initiated the stock to Neutral, setting a price target of $211. Monness Crespi & Hardt also reiterated Buy rating with a price target of $245. Additionally, Maxim Group reiterated Hold rating on August 2, 2024, with a target price of $203. TD Cowen analysts, in their report published on July 29, 2024, also reiterated Buy rating and set a price target of $250 for Apple Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Apple Inc (AAPL) Stock Trading Recap
On Wednesday, Apple Inc (AAPL) stock saw a modest uptick, ending the day at $229.54 which represents a slight increase of $3.77 or 1.67% from the prior close of $225.77. The stock opened at $225.23 and touched a low of $224.83 during the day, reaching a high of $229.75. The volume of shares traded was 32.16 million falling short of the average volume of 53.41 million.
AAPL Stock Performance and Moving Averages
In recent trading, Apple Inc (AAPL) stock price has shown some volatility, fluctuating 1.22% over the last five trades and 4.28% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 36.81%, and it has gained 0.87% in the previous three months. Currently, AAPL is trading at 1.86%, 2.88%, and 15.69% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, AAPL, a Technology sector stock, is trading -3.24% below its 52-week high but remains 39.90% above its 52-week low. The Average True Range (ATR) (14 days) of 4.75 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Apple Inc’s Profitability and Valuation Ratios
Apple Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 31.27% and a profit margin of 26.44%, with a gross margin of 36.81%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Apple Inc’s market capitalization stands at $3489.95 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 34.95, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 30.93. Additionally, the Price-to-Sales Ratio is 9.05, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 52.38, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.09% of Apple Inc (AAPL)’s shares, while financial institutions hold 62.67%.
Notable insider trades include Maestri Luca, Senior Vice President, CFO at Apple Inc (AAPL), who sold 59305 shares on Oct 04 ’24, at $226.52 each, totaling $13.43 million. On Oct 02 ’24, WILLIAMS JEFFREY E, COO, sold 59730 shares for $226.86 each, amounting to $13.55 million. Additionally, on Oct 02 ’24, Adams Katherine L. sold 61019 shares at $226.2 each, generating $13.80 million.