Macquarie reiterated their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note issued to investors on Monday morning. Macquarie currently has a $180.00 price target on the iPhone maker’s stock.
Other equities analysts have also recently issued reports about the stock. Oppenheimer Holdings, Inc. reiterated a rating on shares of Apple in a research note on Thursday, August 10th. Credit Suisse Group restated a buy rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, May 23rd. Sanford C. Bernstein restated a buy rating and set a $160.00 price objective on shares of Apple in a research report on Tuesday, May 23rd. Vetr upgraded shares of Apple from a hold rating to a buy rating and set a $159.81 price objective for the company in a research report on Wednesday, May 17th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $180.00 target price (up previously from $165.00) on shares of Apple in a report on Tuesday, May 16th. Eleven analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $187.63.
Shares of Apple (NASDAQ:AAPL) opened at 158.20 on Monday. The firm has a market capitalization of $817.14 billion, a PE ratio of 17.96 and a beta of 1.27. The company’s 50 day moving average price is $158.70 and its 200-day moving average price is $149.26. Apple has a 52 week low of $104.08 and a 52 week high of $164.94.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. During the same period in the previous year, the business posted $1.42 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Apple will post $9.01 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio is presently 28.64%.
In other news, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 432,930 shares of company stock valued at $69,008,577. Insiders own 0.08% of the company’s stock.
Several large investors have recently modified their holdings of the company. Pinnacle Family Advisors LLC raised its stake in shares of Apple by 17.8% during the second quarter. Pinnacle Family Advisors LLC now owns 13,454 shares of the iPhone maker’s stock valued at $1,938,000 after acquiring an additional 2,035 shares during the last quarter. Intl Fcstone Inc. raised its stake in shares of Apple by 171.1% during the second quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock valued at $4,569,000 after acquiring an additional 20,022 shares during the last quarter. Griffin Asset Management Inc. bought a new position in shares of Apple during the second quarter valued at about $7,126,000. Gs Investments Inc. bought a new position in shares of Apple during the second quarter valued at about $4,180,000. Finally, Aldebaran Financial Inc. raised its stake in shares of Apple by 5.1% during the second quarter. Aldebaran Financial Inc. now owns 25,732 shares of the iPhone maker’s stock valued at $3,706,000 after acquiring an additional 1,255 shares during the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.
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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