Rosenblatt Securities set a $120.00 price target on Apple Inc. (NASDAQ:AAPL) in a research report report published on Wednesday, May 3rd. The brokerage currently has a hold rating on the iPhone maker’s stock.
AAPL has been the topic of a number of other research reports. Barclays PLC set a $123.00 price target on Apple and gave the stock a neutral rating in a research report on Wednesday, May 3rd. Goldman Sachs Group Inc reiterated a buy rating and issued a $164.00 price target (up from $150.00) on shares of Apple in a research note on Wednesday, May 3rd. BMO Capital Markets reiterated a buy rating and issued a $160.00 price target on shares of Apple in a research note on Wednesday, May 3rd. Piper Jaffray Companies restated an overweight rating and set a $158.00 price objective (up from $155.00) on shares of Apple in a research report on Wednesday, May 3rd. Finally, Robert W. Baird reiterated an outperform rating and set a $160.00 price target (up from $145.00) on shares of Apple in a report on Wednesday, May 3rd. Nine research 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. Apple presently has a consensus rating of Buy and a consensus price target of $156.06.
Apple (NASDAQ:AAPL) traded up 0.6789% during midday trading on Wednesday, reaching $153.5756. The company’s stock had a trading volume of 3,610,382 shares. Apple has a 1-year low of $91.50 and a 1-year high of $156.65. The company has a market capitalization of $800.72 billion, a price-to-earnings ratio of 18.0168 and a beta of 1.26. The company’s 50-day moving average price is $146.38 and its 200-day moving average price is $129.20.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $52.61 billion. On average, analysts predict that Apple will post $8.94 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.65%. This is a boost from Apple’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, May 11th. Apple’s payout ratio is presently 27.31%.
In other news, insider Luca Maestri sold 6,308 shares of Apple stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $141.83, for a total transaction of $894,663.64. Following the completion of the transaction, the insider now directly owns 2,665 shares of the company’s stock, valued at approximately $377,976.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $155.27, for a total transaction of $1,855,321.23. Following the transaction, the insider now directly owns 23,998 shares of the company’s stock, valued at $3,726,169.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 314,393 shares of company stock valued at $46,506,842. Insiders own 0.08% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Community Financial Services Group LLC raised its stake in shares of Apple by 4.6% in the first quarter. Community Financial Services Group LLC now owns 31,543 shares of the iPhone maker’s stock valued at $4,531,000 after buying an additional 1,395 shares during the last quarter. Sanders Capital LLC raised its stake in shares of Apple by 1.2% in the first quarter. Sanders Capital LLC now owns 8,007,685 shares of the iPhone maker’s stock valued at $1,177,522,000 after buying an additional 91,860 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Apple during the first quarter valued at approximately $117,000. BSW Wealth Partners raised its stake in shares of Apple by 1.3% in the first quarter. BSW Wealth Partners now owns 10,097 shares of the iPhone maker’s stock valued at $1,450,000 after buying an additional 134 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Apple by 150.8% in the first quarter. Brighton Jones LLC now owns 60,438 shares of the iPhone maker’s stock valued at $8,683,000 after buying an additional 36,337 shares during the last quarter. 58.76% of the stock is owned by institutional investors.
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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