Apple Inc. (NASDAQ:AAPL) to Post Q4 2022 Earnings of $1.21 Per Share, Oppenheimer Forecasts

Apple Inc. (NASDAQ:AAPLGet Rating) – Equities research analysts at Oppenheimer cut their Q4 2022 earnings per share (EPS) estimates for Apple in a research report issued to clients and investors on Thursday, July 28th. Oppenheimer analyst M. Yang now forecasts that the iPhone maker will post earnings per share of $1.21 for the quarter, down from their previous estimate of $1.26. Oppenheimer has a “Outperform” rating and a $190.00 price objective on the stock. The consensus estimate for Apple’s current full-year earnings is $6.09 per share. Oppenheimer also issued estimates for Apple’s Q4 2023 earnings at $1.41 EPS and FY2023 earnings at $6.32 EPS.

A number of other research firms also recently commented on AAPL. Bank of America decreased their target price on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Fundamental Research reduced their price target on Apple from $179.32 to $175.24 and set an “average” rating for the company in a research report on Friday, May 6th. Loop Capital reduced their price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Credit Suisse Group set a $166.00 price target on Apple in a research report on Friday. Finally, Morgan Stanley reduced their price target on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.04.

Apple Trading Up 3.3 %

Apple stock opened at $162.51 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. Apple has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. The stock has a 50-day moving average price of $144.31 and a 200 day moving average price of $157.20.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year.

Apple announced that its board has authorized a share repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 14.94%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple

Several large investors have recently modified their holdings of the business. Daniels&Tansey LLP boosted its position in shares of Apple by 1.6% in the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after purchasing an additional 60 shares during the period. Donald L. Hagan LLC lifted its position in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L lifted its position in Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after acquiring an additional 62 shares during the period. Opus Capital Group LLC lifted its position in Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after acquiring an additional 63 shares during the period. Finally, Norwood Financial Corp lifted its position in Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 57.98% of the company’s stock.

About Apple

(Get Rating)

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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