Shares of Apple (NASDAQ:AAPL) have received an average rating of “Buy” from the fifty-two research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $205.28.
A number of equities research analysts have weighed in on the company. Atlantic Securities lowered Apple from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $177.35 to $190.00 in a research report on Monday, January 22nd. They noted that the move was a valuation call. Morgan Stanley reaffirmed a “buy” rating and set a $205.00 target price (up from $200.00) on shares of Apple in a research report on Tuesday, January 23rd. Canaccord Genuity reaffirmed a “buy” rating and set a $200.00 target price (up from $195.00) on shares of Apple in a research report on Wednesday, January 24th. Sanford C. Bernstein set a $195.00 target price on Apple and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Macquarie set a $188.00 target price on Apple and gave the company a “buy” rating in a research report on Friday, January 26th.
Shares of AAPL stock traded down $0.68 on Thursday, reaching $186.31. 18,297,728 shares of the company’s stock were exchanged, compared to its average volume of 35,484,632. Apple has a 52 week low of $142.20 and a 52 week high of $190.37. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.37 and a current ratio of 1.46. The firm has a market capitalization of $945.34 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.38 and a beta of 1.26.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The firm had revenue of $61.14 billion during the quarter, compared to analyst estimates of $60.94 billion. During the same period last year, the company earned $2.10 EPS. Apple’s quarterly revenue was up 15.6% compared to the same quarter last year. sell-side analysts forecast that Apple will post 11.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 17th. Investors of record on Monday, May 14th were issued a $0.73 dividend. This is a boost from Apple’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 11th. This represents a $2.92 dividend on an annualized basis and a yield of 1.57%. Apple’s dividend payout ratio is presently 31.70%.
Apple declared that its board has authorized a share repurchase program on Tuesday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 11.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
In other Apple news, SVP Daniel J. Riccio sold 17,375 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the completion of the sale, the senior vice president now directly owns 66,191 shares in the company, valued at approximately $11,194,221.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $187.00, for a total value of $910,129.00. Following the sale, the insider now owns 8,433 shares of the company’s stock, valued at $1,576,971. The disclosure for this sale can be found here. Insiders sold a total of 219,736 shares of company stock valued at $38,403,373 in the last ninety days. 0.08% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of AAPL. Northstar Wealth Partners LLC grew its position in shares of Apple by 17.1% in the third quarter. Northstar Wealth Partners LLC now owns 19,055 shares of the iPhone maker’s stock valued at $2,969,000 after purchasing an additional 2,777 shares in the last quarter. Rosenblum Silverman Sutton S F Inc. CA purchased a new stake in shares of Apple in the third quarter valued at approximately $422,000. Mosaic Family Wealth LLC grew its position in shares of Apple by 2.4% in the third quarter. Mosaic Family Wealth LLC now owns 25,728 shares of the iPhone maker’s stock valued at $3,965,000 after purchasing an additional 597 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Apple by 7.5% in the third quarter. Victory Capital Management Inc. now owns 562,098 shares of the iPhone maker’s stock valued at $86,631,000 after purchasing an additional 39,390 shares in the last quarter. Finally, Fortaleza Asset Management Inc. grew its position in shares of Apple by 16.3% in the third quarter. Fortaleza Asset Management Inc. now owns 15,770 shares of the iPhone maker’s stock valued at $2,430,000 after purchasing an additional 2,210 shares in the last quarter. Institutional investors own 60.93% of the company’s stock.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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