Apple (NASDAQ:AAPL) had its target price lifted by Royal Bank of Canada to $240.00 in a research note released on Tuesday, The Fly reports. They currently have an outperform rating on the iPhone maker’s stock.
A number of other research analysts have also recently weighed in on AAPL. BidaskClub raised shares of Apple from a buy rating to a strong-buy rating in a research report on Friday, August 31st. Macquarie set a $214.00 price target on shares of Apple and gave the company a buy rating in a research report on Monday, August 27th. Atlantic Securities reiterated a neutral rating and set a $205.00 price objective on shares of Apple in a research note on Wednesday, August 1st. HSBC set a $205.00 price objective on shares of Apple and gave the company a buy rating in a research note on Thursday, August 30th. Finally, BMO Capital Markets lifted their price objective on shares of Apple from $184.00 to $199.00 and gave the company a market perform rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $225.12.
Shares of AAPL stock opened at $223.10 on Tuesday. The company has a market cap of $1,115.10 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.76 and a beta of 1.33. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. Apple has a fifty-two week low of $149.16 and a fifty-two week high of $229.67.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.16. The firm had revenue of $53.27 billion for the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. Apple’s revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. equities research analysts anticipate that Apple will post 11.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, August 13th were paid a $0.73 dividend. The ex-dividend date was Friday, August 10th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.31%. Apple’s dividend payout ratio (DPR) is presently 31.70%.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 6,568 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $188.81, for a total transaction of $1,240,104.08. Following the sale, the insider now owns 79,476 shares of the company’s stock, valued at approximately $15,005,863.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 384,968 shares of company stock valued at $82,292,858. Insiders own 0.08% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. HRT Financial LLC boosted its holdings in shares of Apple by 233.0% during the second quarter. HRT Financial LLC now owns 46,301 shares of the iPhone maker’s stock valued at $8,570,000 after acquiring an additional 32,395 shares during the period. Planning Directions Inc. boosted its holdings in shares of Apple by 6.8% during the second quarter. Planning Directions Inc. now owns 18,512 shares of the iPhone maker’s stock valued at $3,427,000 after acquiring an additional 1,181 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in shares of Apple during the second quarter valued at $271,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Apple by 12.1% during the second quarter. Chicago Partners Investment Group LLC now owns 39,984 shares of the iPhone maker’s stock valued at $7,402,000 after acquiring an additional 4,316 shares during the period. Finally, Truvestments Capital LLC acquired a new position in shares of Apple during the second quarter valued at $4,191,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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