BidaskClub lowered shares of Apple (NASDAQ:AAPL) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
A number of other brokerages have also recently commented on AAPL. Atlantic Securities reaffirmed a neutral rating and set a $185.00 price objective on shares of Apple in a research note on Wednesday, May 2nd. Barclays lifted their price objective on Apple from $157.00 to $161.00 and gave the stock a neutral rating in a research note on Wednesday, May 2nd. BMO Capital Markets lifted their price objective on Apple from $166.00 to $171.00 and gave the stock a market perform rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised Apple from a sell rating to a hold rating in a research note on Thursday, May 3rd. Finally, Macquarie reaffirmed a buy rating and set a $197.00 price objective on shares of Apple in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Apple presently has a consensus rating of Buy and an average price target of $205.04.
Apple opened at $188.58 on Wednesday, according to Marketbeat. The firm has a market capitalization of $954.68 billion, a PE ratio of 20.48, a PEG ratio of 1.40 and a beta of 1.26. Apple has a 52 week low of $142.20 and a 52 week high of $190.37. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.80.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.69 by $0.04. The company had revenue of $61.14 billion during the quarter, compared to analysts’ expectations of $60.94 billion. Apple had a return on equity of 39.97% and a net margin of 21.55%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $2.10 EPS. equities research analysts expect that Apple will post 11.43 EPS for the current year.
Apple declared that its board has approved a stock repurchase plan on Tuesday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 17th. Shareholders of record on Monday, May 14th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.63. Apple’s payout ratio is 31.70%.
In other news, insider Philip W. Schiller sold 69,491 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $166.42, for a total value of $11,564,692.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Johny Srouji sold 14,976 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $187.74, for a total value of $2,811,594.24. Following the completion of the transaction, the insider now directly owns 73,302 shares in the company, valued at approximately $13,761,717.48. The disclosure for this sale can be found here. Insiders sold 252,084 shares of company stock worth $44,474,650 in the last ninety days. 0.08% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Summit Trail Advisors LLC grew its position in Apple by 17,669.4% during the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after buying an additional 20,067,124 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Apple by 1.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock worth $3,290,212,000 after buying an additional 347,970 shares in the last quarter. Swiss National Bank grew its position in Apple by 0.4% during the third quarter. Swiss National Bank now owns 19,248,516 shares of the iPhone maker’s stock worth $2,966,581,000 after buying an additional 79,100 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Apple by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock worth $2,711,005,000 after buying an additional 55,050 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Apple by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,977,515 shares of the iPhone maker’s stock worth $2,680,707,000 after buying an additional 136,478 shares in the last quarter. 58.19% of the stock is currently owned by institutional investors.
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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