BMO Capital Markets reaffirmed their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note published on Wednesday. The brokerage currently has a $180.00 price target on the iPhone maker’s stock.
A number of other equities analysts also recently issued reports on AAPL. UBS AG reiterated a buy rating and set a $170.00 price target on shares of Apple in a research note on Saturday, May 20th. Royal Bank Of Canada reiterated an outperform rating and set a $160.08 price target (down previously from $176.00) on shares of Apple in a research note on Wednesday, August 9th. J P Morgan Chase & Co reiterated a buy rating and set a price target on shares of Apple in a research note on Monday, September 11th. Rosenblatt Securities set a $150.00 price target on Apple and gave the company a hold rating in a research note on Sunday, September 10th. Finally, Drexel Hamilton reiterated a buy rating and set a $208.00 price target on shares of Apple in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $187.63.
Apple (AAPL) traded up 1.01% on Wednesday, hitting $159.88. The stock had a trading volume of 49,114,602 shares. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The stock has a market capitalization of $825.82 billion, a price-to-earnings ratio of 18.15 and a beta of 1.27. The company has a 50-day moving average price of $158.97 and a 200-day moving average price of $149.42.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.42 EPS. Equities research analysts anticipate that Apple will post $9.01 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.58%. Apple’s dividend payout ratio (DPR) is presently 28.64%.
In other Apple news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold a total of 432,930 shares of company stock worth $69,008,577 in the last 90 days. 0.08% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Blue Sky Asset Management LLC purchased a new stake in shares of Apple in the 2nd quarter valued at $108,000. Hefty Wealth Partners boosted its holdings in shares of Apple by 27.6% in the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 174 shares during the last quarter. FNY Managed Accounts LLC boosted its holdings in shares of Apple by 852.4% in the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 716 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of Apple in the 1st quarter valued at $117,000. Finally, Private Vista LLC purchased a new stake in shares of Apple in the 2nd quarter valued at $122,000. Institutional investors and hedge funds own 60.45% 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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