Several other research analysts have also weighed in on AAPL. Barclays PLC lowered Apple from an overweight rating to an equal weight rating and lowered their price target for the stock from $119.00 to $117.00 in a research report on Tuesday, January 24th. Rosenblatt Securities set a $120.00 target price on Apple and gave the stock a hold rating in a report on Wednesday, May 3rd. Bank of America Corp boosted their target price on Apple from $125.00 to $140.00 and gave the stock a buy rating in a report on Thursday, January 19th. Credit Suisse Group AG restated an outperform rating and issued a $171.00 price target (up from $163.00) on shares of Apple in a research note on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded Apple from a hold rating to a buy rating and set a $161.00 price target for the company in a research note on Tuesday, April 11th. Nine analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $156.06.
Shares of Apple (NASDAQ:AAPL) traded up 0.34% during mid-day trading on Monday, hitting $153.06. 26,893,806 shares of the company traded hands. The firm has a 50-day moving average price of $146.38 and a 200 day moving average price of $129.20. Apple has a 52-week low of $91.50 and a 52-week high of $156.65. The firm has a market cap of $798.03 billion, a price-to-earnings ratio of 17.96 and a beta of 1.26.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.08. Apple had a return on equity of 34.94% and a net margin of 20.73%. The firm had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. Equities research analysts anticipate that Apple will post $8.94 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.65%. Apple’s payout ratio is presently 27.31%.
In other news, insider Angela J. Ahrendts sold 75,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $147.98, for a total transaction of $11,098,500.00. Following the completion of the sale, the insider now directly owns 154,116 shares in the company, valued at approximately $22,806,085.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total value of $1,855,321.23. Following the sale, the insider now owns 23,998 shares of the company’s stock, valued at $3,726,169.46. The disclosure for this sale can be found here. Insiders have sold a total of 314,393 shares of company stock worth $46,506,842 over the last three months. 0.08% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in AAPL. Boyd Watterson Asset Management LLC OH purchased a new position in shares of Apple during the third quarter worth about $3,748,000. DAVENPORT & Co LLC boosted its stake in shares of Apple by 0.3% in the third quarter. DAVENPORT & Co LLC now owns 381,839 shares of the iPhone maker’s stock valued at $43,167,000 after buying an additional 1,098 shares during the last quarter. Van Cleef Asset Management Inc boosted its stake in shares of Apple by 0.4% in the third quarter. Van Cleef Asset Management Inc now owns 172,796 shares of the iPhone maker’s stock valued at $19,535,000 after buying an additional 763 shares during the last quarter. Stewart & Patten Co. LLC boosted its stake in shares of Apple by 2.3% in the third quarter. Stewart & Patten Co. LLC now owns 79,007 shares of the iPhone maker’s stock valued at $8,931,000 after buying an additional 1,806 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP boosted its stake in shares of Apple by 18.2% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 4,433 shares of the iPhone maker’s stock valued at $501,000 after buying an additional 682 shares during the last quarter. Institutional investors and hedge funds own 58.76% of the company’s stock.
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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