Other equities analysts have also recently issued research reports about the company. Loop Capital decreased their price objective on Apple from $210.00 to $180.00 and set a buy rating for the company in a research note on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Apple from $200.00 to $175.00 in a research note on Tuesday, June 14th. Deutsche Bank Rese… set a $210.00 target price on Apple in a research note on Friday, April 8th. Morgan Stanley decreased their target price on Apple from $185.00 to $180.00 and set an overweight rating for the company in a research note on Wednesday, July 20th. Finally, KeyCorp decreased their target price on Apple from $191.00 to $173.00 and set an overweight rating for the company in a research note on Tuesday, July 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $182.73.
Apple Stock Performance
Shares of AAPL opened at $152.95 on Monday. The stock has a 50-day simple moving average of $143.05 and a 200-day simple moving average of $157.67. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The stock has a market capitalization of $2.48 trillion, a PE ratio of 24.83, a PEG ratio of 2.00 and a beta of 1.19. Apple has a 1 year low of $129.04 and a 1 year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.09. The business had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. On average, analysts predict that Apple will post 6.09 earnings per share for the current fiscal year.
Apple declared that its Board of Directors has authorized a share buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Friday, May 6th. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio is currently 14.94%.
Insider Buying and Selling
In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.
Institutional Trading of Apple
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. State Street Corp boosted its position in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC boosted its position in Apple by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after purchasing an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new stake in Apple during the fourth quarter worth $25,228,507,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Apple by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares in the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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