Apple (NASDAQ:AAPL) Stock Price Up 0.5% - Is It a Good Buy?

Apple Inc. (NASDAQ:AAPL) shares saw a modest increase of 0.5% in mid-day trading on Thursday. The stock peaked at $217.49 before settling at $216.35 by the end of the trading session. The trading volume for the day was approximately 8,786,211 shares, which represents a significant drop of 83% from the average daily volume of around 52,705,436 shares. The previous closing price for the stock was $215.24.

Wall Street Analysts Forecast Growth

Recently, various analysts have shared their opinions on Apple's stock. Notably, TD Cowen reaffirmed a "buy" rating for Apple in their report dated January 28th. Conversely, Oppenheimer downgraded Apple from an "outperform" rating to a "market perform" rating on January 29th. Meanwhile, Sanford C. Bernstein increased their target price for Apple from $240.00 to $260.00 and assigned an "outperform" rating in a report published on January 3rd. Loop Capital reduced Apple's rating from "buy" to "hold", establishing a price target of $230.00 in their research note on January 21st. Finally, Moffett Nathanson reiterated a "sell" rating with a revised price objective of $188.00, down from $202.00, in their report on January 7th. Overall, four analysts have given Apple a "sell" rating, ten have a "hold" rating, twenty-one a "buy" rating, and two a "strong buy" rating. The average price target for Apple shares currently sits at around $243.65, indicating a consensus rating of "Moderate Buy" according to MarketBeat.

Apple Stock Performance Trends

The company's market capitalization is approximately $3.20 trillion, featuring a P/E ratio of 33.90 and a P/E/G ratio of 2.44, alongside a beta of 1.18. In terms of leverage, the debt-to-equity ratio for Apple stands at 1.26, with a current ratio of 0.92 and a quick ratio of 0.88. The stock's moving averages show a 50-day average of $232.76 and a 200-day average of $233.47.

On January 30th, Apple reported its quarterly earnings, revealing earnings of $2.40 per share for the quarter, slightly beating the expected consensus of $2.36 by $0.04. The company's net margin is recorded at 24.30%, while the return on equity is an impressive 160.83%. Analysts predict that Apple Inc. will achieve around 7.28 earnings per share for the current fiscal year.

Apple's Dividend Details

Recently, Apple declared a quarterly dividend, which was executed on February 13th. All shareholders on record as of February 10th received a dividend of $0.25 per share. This translates to an annualized dividend yield of 0.47%. The ex-dividend date was set for February 10th, and Apple's dividend payout ratio (DPR) is currently 15.87%.

Institutional Investors' Activity

In recent months, large institutional investors have adjusted their holdings in Apple. For instance, Drystone LLC acquired a new stake worth approximately $25,000 during the fourth quarter. Bull Oak Capital LLC notably increased their position in Apple by a remarkable 252.3% in the third quarter, now owning 155 shares valued at $36,000 after acquiring an additional 111 shares. Life Planning Partners Inc and Conquis Financial LLC also purchased new stakes valued at around $47,000 and $63,000 respectively in the fourth quarter. Furthermore, LSV Asset Management acquired a new stake worth approximately $65,000 in the same quarter. Institutional investors collectively own about 67.73% of Apple's shares.

About Apple Inc.

Apple Inc. designs, manufactures, and markets a wide range of technology products including smartphones, personal computers, tablets, wearables, and accessories worldwide. The company's notable offerings include the iPhone, the Mac line of personal computers, the iPad tablet, and a variety of wearables and accessories such as AirPods, Apple Watch, and HomePod.

Should You Invest $1,000 in Apple Right Now?

Before making an investment decision regarding Apple, it's vital to explore other options. Market analysts consistently track high-performing stocks and recently identified five promising stocks to consider before the market catches up. Although Apple currently holds a "Moderate Buy" rating among analysts, there may be better alternatives available for potential investors.

For those interested in stock investments, understanding current market trends and alternatives is essential for making informed buying decisions.

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