Apple Inc. (NASDAQ:AAPL – Get 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:AAPL – Get 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.
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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