Analyst Upgrades and Downgrades
AAPL has been the topic of several analyst reports. Jefferies Financial Group reduced their price target on shares of Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. StockNews.com began coverage on shares of Apple in a research note on Thursday, August 17th. They set a “hold” rating for the company. TD Cowen lifted their target price on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Raymond James lifted their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Finally, Evercore ISI lifted their target price on shares of Apple from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, June 5th. Ten analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.41.
Check Out Our Latest Stock Analysis on Apple
Apple Price Performance
Shares of NASDAQ:AAPL opened at $175.01 on Friday. The company has a 50 day moving average of $184.70 and a 200 day moving average of $175.43. The stock has a market cap of $2.74 trillion, a P/E ratio of 29.41, a P/E/G ratio of 2.54 and a beta of 1.27. Apple has a 12 month low of $124.17 and a 12 month high of $198.23. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple will post 6.05 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. Apple’s dividend payout ratio is presently 16.13%.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.
Hedge Funds Weigh In On Apple
A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. IFM Investors Pty Ltd boosted its stake in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after purchasing an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. boosted its stake in shares of Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after purchasing an additional 1,040 shares in the last quarter. Markel Corp raised its holdings in Apple by 0.7% during the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after buying an additional 8,450 shares during the last quarter. Camden Capital LLC raised its holdings in Apple by 9.2% during the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after buying an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC raised its holdings in Apple by 0.3% during the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Apple Company Profile
(Get Free Report)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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