Stifel Nicolaus reissued their hold rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note released on Tuesday, July 25th. They currently have a $150.00 target price on the iPhone maker’s stock.
A number of other brokerages have also issued reports on AAPL. Argus reissued an outperform rating and issued a $160.00 price target on shares of Apple in a research note on Monday, May 15th. Hilliard Lyons raised their price target on Apple from $147.00 to $170.00 and gave the stock a buy rating in a research note on Monday, May 15th. Canaccord Genuity reissued a buy rating and issued a $180.00 price target (up from $165.00) on shares of Apple in a research note on Tuesday, May 16th. BMO Capital Markets reissued an outperform rating and issued a $170.00 price target (up from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Finally, Morgan Stanley reissued an overweight rating and issued a $177.00 price target (up from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Twelve research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $167.35.
Shares of Apple (NASDAQ:AAPL) traded up 1.39% on Tuesday, hitting $157.48. 26,257,096 shares of the stock traded hands. Apple has a 12 month low of $102.53 and a 12 month high of $161.83. The firm’s 50 day moving average is $149.92 and its 200-day moving average is $144.27. The company has a market cap of $813.42 billion, a PE ratio of 17.88 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The business had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. Equities analysts predict that Apple will post $9.02 earnings per share for the current year.
Apple announced that its board has authorized a share buyback program on Tuesday, May 2nd that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.60%. Apple’s dividend payout ratio is presently 28.64%.
In other Apple news, insider Craig Federighi sold 64,500 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $153.62, for a total value of $9,908,490.00. Following the completion of the sale, the insider now owns 447,151 shares in the company, valued at approximately $68,691,336.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP D Bruce Sewell sold 31,625 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the completion of the sale, the senior vice president now owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The disclosure for this sale can be found here. Insiders sold a total of 299,911 shares of company stock worth $46,557,634 in the last 90 days. 0.08% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of AAPL. Vantage Financial Partners Ltd. Inc. bought a new position in Apple during the second quarter worth $400,000. Blue Sky Asset Management LLC bought a new position in Apple during the second quarter worth $108,000. FNY Managed Accounts LLC increased its position 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 in the last quarter. Hefty Wealth Partners increased its position 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 in the last quarter. Finally, American Beacon Advisors Inc. bought a new position in Apple during the first quarter worth $117,000. Hedge funds and other institutional investors own 61.13% 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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