BMO Capital Markets reiterated their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note published on Wednesday. They currently have a $180.00 price objective on the iPhone maker’s stock.
Other equities research analysts have also recently issued reports about the stock. UBS AG reiterated a buy rating and set a $170.00 price objective on shares of Apple in a research report on Saturday, May 20th. Deutsche Bank AG reiterated a hold rating and set a $130.00 price objective on shares of Apple in a research report on Tuesday, June 6th. Credit Suisse Group reiterated an outperform rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, June 6th. Drexel Hamilton reiterated a buy rating and set a $208.00 price objective on shares of Apple in a research report on Wednesday. Finally, Sanford C. Bernstein reiterated a buy rating and set a $160.00 price objective on shares of Apple in a research report on Tuesday, May 23rd. Eleven analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $187.63.
Apple (NASDAQ:AAPL) traded down 0.46% during midday trading on Wednesday, reaching $158.91. 14,796,221 shares of the company traded hands. Apple has a 12-month low of $104.08 and a 12-month high of $164.94. The stock has a market capitalization of $820.81 billion, a P/E ratio of 18.04 and a beta of 1.27. The company has a 50 day moving average of $158.37 and a 200-day moving average of $149.12.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the prior year, the company posted $1.42 earnings per share. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Apple will post $9.01 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.58%. Apple’s dividend payout ratio (DPR) is 28.64%.
In other news, insider Chris Kondo sold 6,209 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $161.96, for a total transaction of $1,005,609.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the transaction, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 432,930 shares of company stock valued at $69,008,577. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Berkshire Hathaway Inc. increased its stake in shares of Apple by 0.6% during the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after buying an additional 834,854 shares during the period. Norges Bank purchased a new position in shares of Apple during the fourth quarter valued at $5,625,709,000. Capital Research Global Investors increased its stake in shares of Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares during the period. Legal & General Group Plc increased its stake in shares of Apple by 3.0% during the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after buying an additional 771,046 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares during the period. Hedge funds and other institutional investors own 60.45% 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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