Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reissued by stock analysts at Raymond James Financial Inc. in a research note issued to investors on Sunday.
A number of other research analysts have also issued reports on the stock. Vetr upgraded shares of Apple and set a $100.00 target price on the stock in a report on Thursday, July 14th. Longbow Research began coverage on shares of Apple in a report on Wednesday, July 6th. They issued a “buy” rating and a $125.00 target price on the stock. Drexel Hamilton restated a “buy” rating and issued a $185.00 target price on shares of Apple in a report on Thursday, July 7th. Mizuho reaffirmed a “buy” rating and set a $120.00 price objective on shares of Apple in a research note on Monday, July 11th. Finally, Pacific Crest reaffirmed a “buy” rating and set a $121.00 price objective (down previously from $123.00) on shares of Apple in a research note on Monday, July 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, forty-one have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $127.95.
Apple (NASDAQ:AAPL) opened at 113.72 on Friday. Apple has a 1-year low of $89.47 and a 1-year high of $123.82. The stock has a 50 day moving average of $114.12 and a 200 day moving average of $104.15. The stock has a market cap of $606.83 billion, a price-to-earnings ratio of 13.68 and a beta of 1.22.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping the consensus estimate of $1.66 by $0.01. Apple had a net margin of 21.19% and a return on equity of 35.59%. The business had revenue of $46.85 billion for the quarter, compared to analyst estimates of $46.88 billion. During the same period in the previous year, the firm earned $1.96 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. Equities analysts expect that Apple will post $9.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Monday, November 7th will be issued a $0.57 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.00%. Apple’s dividend payout ratio is currently 27.57%.
In other Apple news, Director Arthur D. Levinson sold 70,000 shares of Apple stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $108.68, for a total value of $7,607,600.00. Following the sale, the director now directly owns 1,203,283 shares in the company, valued at approximately $130,772,796.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 43,769 shares of Apple stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $112.59, for a total transaction of $4,927,951.71. Following the completion of the sale, the chief operating officer now owns 90,657 shares in the company, valued at $10,207,071.63. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. increased its stake in shares of Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares in the last quarter. Magellan Asset Management Ltd increased its stake in shares of Apple by 56.9% in the second quarter. Magellan Asset Management Ltd now owns 15,294,140 shares of the iPhone maker’s stock worth $1,462,120,000 after buying an additional 5,543,465 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Apple by 87.4% in the second quarter. Nordea Investment Management AB now owns 10,195,750 shares of the iPhone maker’s stock worth $974,714,000 after buying an additional 4,755,361 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Apple during the first quarter worth about $325,287,000. Finally, Franklin Resources Inc. increased its stake in shares of Apple by 20.2% in the second quarter. Franklin Resources Inc. now owns 17,027,764 shares of the iPhone maker’s stock worth $1,627,849,000 after buying an additional 2,857,040 shares in the last quarter. Institutional investors own 56.41% of the company’s stock.