Traders Buy Large Volume of Call Options on Apple (NASDAQ:AAPL)

On Monday, the volume of options traded was unusually high. Investors purchased 1,261,919 calls on the stock. This is an increase of 29% over the average call option volume of 975 639.

Apple Insider Transactions

On March 22nd, 187,730 of the company stock were sold in a single transaction. The stock was bought at an average of $159.76 for a transaction totaling $29,991,744.80. The chief operating officer owns now 489,816 of the company stock valued at $78,253,004.16. Jeffrey E. Williams, the COO, sold 77 817 shares of company stock on Tuesday, 4th April. The stock was bought at a price of $166.11 on average, for a transaction totaling $12,926,181.87. The chief operating officer owns now 489,816 of the company stock valued at $81,363,335.76. COO Jeffrey E. Williams also sold 187 730 shares of company stock on March 22nd. The shares were sold for an average price $159.76 and a total of $29.991,744.80. After the transaction, the chief executive officer owns directly 489,816 company shares, worth approximately $78,253,004.16. Insiders sold 439 529 shares of stock in the company worth $71,703,657 over the past quarter. A number of hedge funds and institutional investors have recently changed their holdings in AAPL. EP Wealth Advisors LLC acquired a new position of shares in Apple valued at $253,207,000. Level Four Advisory Services LLC increased its stake in Apple shares by 0.5% during the first quarter. Level Four Advisory Services LLC owns 595.598 shares in the iPhone maker, valued at $98,214,000. This is after buying an additional 3,022 during the period. ORG Partners LLC bought a new Apple position during the first quarter worth about $8,977,000. Ontario Teachers Pension Plan Board bought a new Apple position during the first quarter worth about $454,000. Golden State Equity Partners also purchased shares of Apple in the first quarter, valued at about $5,905,000. Hedge funds, other institutional investors and pension funds own 57.60% the stock of Apple.

Analysts set new price targets

In a research report published on Thursday 18th May, Apple was first covered. The stock was given a "hold" rating. Canaccord Genuity Group increased their price target for Apple from $180.00 up to $185.00 in a report published on Friday, 5th May. They also gave the stock a "buy" rating. Fundamental Research gave Apple a buy rating and a price target of $183.86 in a report published on May 17th. Wedbush reiterated an 'outperform rating' and set a $200.00 price target for shares of Apple on Monday, April 17. In a report published on May 5th, Rosenblatt Securities increased their price target for Apple from $173.00 up to $198.00, and gave it a "buy" rating. Two analysts have given the stock a sell recommendation, six have assigned it a hold recommendation and 26 have given the stock a buy recommendation. According to MarketBeat data, the average rating for the stock is 'Moderate' Buy with an average price of $176.28.

Apple Price Performance

Trading on Monday saw a decline of $0.23, bringing the price to $180.72. Stock of the company traded at 76,935,395 compared to 63,327.832 shares on average. The fifty-day moving range of the company is $168.77, and its 200 day moving range is $152.90. The company's quick ratio is 0.88, its current ratio is 0.94, and it has a debt to equity ratio of 1.56.

The last time ) released its quarterly earnings was on Thursday, 4th May. Apple reported $1.52 per share for the quarter. This was $0.08 higher than the consensus estimate. Apple's net margin was 24.49%, and its return on equity was 165.72%. Revenue was $94.84bn, which is higher than the consensus estimate. In the same quarter of the previous year, the company earned $1.52 per share. Revenue was down 2.5% year-over-year. Apple is expected to post an average of 5.99 earnings per share in the current fiscal.

Apple increases Dividend

A quarterly dividend was also paid by the company on May 18th. Dividends were paid to shareholders who had their shares in the company's records on Monday, 15th May. Apple increased its previous quarterly dividend from $0.23 to $0.24. This is a $0.96 dividend annualized and a dividend rate of 0.53%. Ex-dividend was on Friday, May 12. Apple's payout rate is currently 16.30%.

Apple announced on Thursday, 4th May that its board had authorized a share purchase plan that allows the company to buy $90.00 billion worth of shares. The iPhone maker can buy up to 3,4% of its stock through open market purchases. Repurchase plans for shares usually indicate that the board of directors believes their stock is undervalued.

Apple Company Profile

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Apple Inc. is a company that designs, manufactures, and sells smartphones, personal computers, tablet devices, wearables, accessories, and other related services. Apple operates in four geographical segments: Americas (North and South America), Europe, Greater China (Japan), and Rest of Asia Pacific. The Americas segment comprises North and South America.

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