Wells Fargo & Company restated their market perform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note released on Tuesday morning, Marketbeat.com reports. Wells Fargo & Company currently has a $195.00 price target on the iPhone maker’s stock.
Several other analysts also recently weighed in on AAPL. Morgan Stanley lifted their price objective on shares of Apple from $177.00 to $182.00 and gave the company an overweight rating in a research report on Monday, July 17th. Vetr cut shares of Apple from a strong-buy rating to a buy rating and set a $165.66 target price on the stock. in a research note on Tuesday, July 18th. J P Morgan Chase & Co set a $165.00 target price on shares of Apple and gave the company a buy rating in a research note on Wednesday, July 19th. UBS AG reissued a buy rating and set a $170.00 target price on shares of Apple in a research note on Friday, July 21st. Finally, Guggenheim reissued a buy rating and set a $180.00 target price on shares of Apple in a research note on Friday, July 21st. Seven analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $200.24.
Apple (NASDAQ AAPL) traded down $0.95 during trading on Tuesday, hitting $170.15. 21,885,134 shares of the stock were exchanged, compared to its average volume of 27,239,135. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. Apple has a one year low of $108.25 and a one year high of $176.24. The company has a market cap of $873,600.00, a P/E ratio of 18.38, a P/E/G ratio of 1.35 and a beta of 1.25.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. Apple had a net margin of 21.09% and a return on equity of 36.29%. Apple’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $1.50 EPS. equities analysts expect that Apple will post 11.18 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were given a dividend of $0.63 per share. The ex-dividend date was Friday, November 10th. This represents a $2.52 annualized dividend and a yield of 1.48%. Apple’s dividend payout ratio (DPR) is presently 27.42%.
In other news, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the transaction, the insider now owns 39,682 shares in the company, valued at $6,839,192.70. The disclosure for this sale can be found here. Insiders have sold 410,352 shares of company stock worth $65,356,512 over the last quarter. 0.08% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Apple in the second quarter valued at about $400,000. Blue Sky Asset Management LLC bought a new stake in shares of Apple in the second quarter worth about $108,000. FNY Managed Accounts LLC increased its holdings in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the last quarter. Hefty Wealth Partners increased its holdings in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares during the last quarter. Finally, American Beacon Advisors Inc. bought a new stake in shares of Apple in the first quarter worth about $117,000. Institutional investors and hedge funds own 60.38% of the company’s stock.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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