Trade Report: Today, Apple Inc. (AAPL) Rating Reiterate by Drexel Hamilton

Today, Apple Inc. (AAPL) Rating Reiterate by Drexel Hamilton

Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by investment analysts at Drexel Hamilton in a research report issued to clients and investors on Sunday. They currently have a $185.00 price objective on the iPhone maker’s stock. Drexel Hamilton’s price objective would suggest a potential upside of 65.49% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Pacific Crest reaffirmed a “buy” rating and issued a $129.00 price objective on shares of Apple in a research note on Wednesday, October 26th. Vetr cut shares of Apple from a “hold” rating to a “sell” rating and set a $103.98 price objective for the company. in a research note on Monday, August 8th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Apple in a research note on Friday, August 5th. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of Apple in a research note on Friday, September 9th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Apple in a research note on Friday, August 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have issued a buy rating and two have assigned a strong buy rating to the stock. Apple presently has an average rating of “Buy” and a consensus target price of $128.29.

Shares of Apple (NASDAQ:AAPL) opened at 111.79 on Friday. Apple has a 1-year low of $89.47 and a 1-year high of $119.86. The company has a market capitalization of $596.10 billion, a P/E ratio of 13.45 and a beta of 1.34. The firm has a 50-day moving average of $113.06 and a 200 day moving average of $105.31.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.01. The firm had revenue of $46.85 billion for the quarter, compared to analyst estimates of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. On average, equities research analysts expect that Apple will post $9.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.04%. Apple’s dividend payout ratio (DPR) is currently 27.57%.

In other news, CEO Timothy D. Cook sold 110,000 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total value of $11,654,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 16,950 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $110.03, for a total value of $1,865,008.50. Following the completion of the sale, the chief financial officer now owns 12,055 shares of the company’s stock, valued at approximately $1,326,411.65. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of AAPL. Cordasco Financial Network increased its position in shares of Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock worth $321,000 after buying an additional 12 shares in the last quarter. Cidel Asset Management Inc. increased its position in shares of Apple by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 4,186 shares of the iPhone maker’s stock worth $400,000 after buying an additional 13 shares in the last quarter. Boston Standard Wealth Management LLC increased its position in shares of Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock worth $218,000 after buying an additional 14 shares in the last quarter. Lbmc Investment Advisors LLC increased its position in shares of Apple by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 5,110 shares of the iPhone maker’s stock worth $489,000 after buying an additional 15 shares in the last quarter. Finally, Summit Financial Strategies Inc. increased its position in shares of Apple by 0.3% in the second quarter. Summit Financial Strategies Inc. now owns 6,533 shares of the iPhone maker’s stock worth $625,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 56.81% of the company’s stock.

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