Apple Inc. (NASDAQ:AAPL) – Equities research analysts at KeyCorp lifted their Q1 2018 earnings per share estimates for Apple in a research note issued to investors on Wednesday. KeyCorp analyst A. Hargreaves now anticipates that the iPhone maker will earn $3.78 per share for the quarter, up from their prior forecast of $3.72. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Apple’s Q2 2018 earnings at $2.67 EPS, Q3 2018 earnings at $2.16 EPS, Q4 2018 earnings at $2.20 EPS and FY2018 earnings at $10.84 EPS.
A number of other research firms have also commented on AAPL. Drexel Hamilton reiterated a “buy” rating and set a $202.00 price target on shares of Apple in a report on Thursday, July 6th. Barclays PLC reiterated a “hold” rating and set a $146.00 price target on shares of Apple in a report on Monday, September 4th. Instinet reiterated a “buy” rating and set a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $168.00 price target on shares of Apple in a report on Tuesday, June 6th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $170.00 price target on shares of Apple in a report on Tuesday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $168.89.
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Apple (NASDAQ AAPL) opened at 158.63 on Friday. The company’s 50-day moving average is $157.79 and its 200-day moving average is $148.59. Apple has a 52 week low of $102.53 and a 52 week high of $164.94. The company has a market cap of $819.36 billion, a P/E ratio of 18.01 and a beta of 1.27.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. During the same quarter last year, the firm earned $1.42 earnings per share. Apple’s quarterly revenue was up 7.2% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of the business. Capital Guardian Trust Co. raised its position in shares of Apple by 3.5% during the 4th quarter. Capital Guardian Trust Co. now owns 1,798,987 shares of the iPhone maker’s stock worth $208,359,000 after acquiring an additional 61,142 shares in the last quarter. Empire Life Investments Inc. acquired a new stake in shares of Apple during the 4th quarter worth about $14,736,000. Narus Financial Partners LLC acquired a new stake in shares of Apple during the 4th quarter worth about $777,000. RB Capital Management LLC acquired a new stake in shares of Apple during the 4th quarter worth about $5,793,000. Finally, Lebenthal Asset Management LLC raised its position in shares of Apple by 2.7% during the 4th quarter. Lebenthal Asset Management LLC now owns 141,666 shares of the iPhone maker’s stock worth $16,408,000 after acquiring an additional 3,699 shares in the last quarter. 60.44% of the stock is currently owned by institutional investors.
In other Apple news, insider Johny Srouji sold 5,892 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the sale, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock worth $69,008,577 in the last ninety days. 0.08% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.
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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