Barclays PLC Reaffirms Equal Weight Rating for Apple Inc. (AAPL)
AAPL has been the subject of several other research reports. UBS AG set a $165.00 price objective on shares of Apple and gave the stock a buy rating in a report on Wednesday, May 3rd. FBN Securities upped their price objective on shares of Apple from $155.00 to $160.00 and gave the stock an outperform rating in a report on Thursday, May 4th. Deutsche Bank AG reaffirmed a hold rating and issued a $130.00 price objective on shares of Apple in a report on Tuesday, June 6th. Credit Suisse Group reaffirmed an outperform rating and issued a $170.00 price objective on shares of Apple in a report on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $170.00 price objective on shares of Apple in a report on Tuesday, July 25th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $167.73.
Apple (NASDAQ:AAPL) opened at 159.86 on Thursday. The firm has a 50-day moving average of $153.93 and a 200-day moving average of $146.76. The stock has a market cap of $825.71 billion, a PE ratio of 18.15 and a beta of 1.31. Apple has a 12-month low of $102.53 and a 12-month high of $162.51.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to analyst estimates of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 earnings per share. Equities analysts predict that Apple will post $9.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a yield of 1.58%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
Apple announced that its board has initiated a stock buyback plan on Tuesday, May 2nd that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Johny Srouji sold 10,019 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $153.96, for a total value of $1,542,525.24. Following the completion of the sale, the insider now directly owns 91,291 shares in the company, valued at approximately $14,055,162.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luca Maestri sold 4,757 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $154.70, for a total value of $735,907.90. Following the completion of the sale, the insider now owns 3,414 shares of the company’s stock, valued at $528,145.80. The disclosure for this sale can be found here. Insiders sold a total of 185,140 shares of company stock valued at $29,045,404 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. bought a new stake in Apple during the second quarter worth $400,000. Blue Sky Asset Management LLC bought a new stake in Apple during the second quarter worth $108,000. FNY Managed Accounts LLC increased its stake in 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 buying an additional 716 shares during the last quarter. Hefty Wealth Partners increased its stake in 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 buying an additional 174 shares during the last quarter. Finally, American Beacon Advisors Inc. bought a new stake in Apple during the first quarter worth $117,000. Institutional investors and hedge funds own 61.50% 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.
Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.