Apple Inc. (NASDAQ:AAPL) has been given an average recommendation of “Hold” by the forty-nine research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $216.11.
Several research firms recently issued reports on AAPL. Maxim Group cut their target price on Apple to $211.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Nomura increased their target price on Apple from $180.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Monness Crespi & Hardt reiterated a “buy” rating and set a $265.00 target price (up previously from $245.00) on shares of Apple in a research report on Wednesday, July 31st. Barclays assumed coverage on Apple in a research note on Wednesday, August 7th. They set an “equal weight” rating and a $192.00 price target for the company. Finally, Daiwa Capital Markets set a $223.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday, August 7th.
AAPL traded down $1.04 during midday trading on Friday, reaching $201.71. The company had a trading volume of 22,661,262 shares, compared to its average volume of 28,654,836. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $203.68. The firm has a market capitalization of $906.01 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.68 and a beta of 1.25. Apple has a 1 year low of $142.00 and a 1 year high of $233.47.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The firm had revenue of $53.81 billion during the quarter, compared to analysts’ expectations of $53.39 billion. During the same quarter last year, the business posted $2.34 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. Research analysts forecast that Apple will post 11.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 12th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, August 9th. Apple’s payout ratio is 25.86%.
Apple announced that its board has initiated a stock repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the sale, the director now directly owns 1,150,783 shares of the company’s stock, valued at $246,290,577.66. The disclosure for this sale can be found here. Insiders sold a total of 39,376 shares of company stock valued at $8,226,574 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Roanoke Asset Management Corp NY boosted its position in shares of Apple by 1.1% in the 2nd quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock worth $873,000 after purchasing an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Apple by 0.4% in the 2nd quarter. Guardian Life Insurance Co. of America now owns 12,970 shares of the iPhone maker’s stock worth $2,567,000 after purchasing an additional 51 shares in the last quarter. Monument Capital Management boosted its position in shares of Apple by 2.2% in the 2nd quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after purchasing an additional 53 shares in the last quarter. Landmark Financial Advisors LLC boosted its position in shares of Apple by 0.7% in the 2nd quarter. Landmark Financial Advisors LLC now owns 7,357 shares of the iPhone maker’s stock worth $1,456,000 after purchasing an additional 53 shares in the last quarter. Finally, MA Private Wealth boosted its position in shares of Apple by 0.3% in the 2nd quarter. MA Private Wealth now owns 16,134 shares of the iPhone maker’s stock worth $3,193,000 after purchasing an additional 56 shares in the last quarter. 59.67% of the stock is owned by hedge funds and other institutional investors.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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