Apple (AAPL) Stock Rating Reaffirmed by Macquarie

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Macquarie reiterated their buy rating on shares of Apple (NASDAQ:AAPL) in a report published on Monday. They currently have a $222.00 price objective on the iPhone maker’s stock.

A number of other research analysts also recently commented on the stock. New Street Research downgraded shares of Apple from a neutral rating to a sell rating in a research report on Monday, August 20th. Bank of America boosted their price objective on shares of Apple from $250.00 to $256.00 and gave the company a buy rating in a research report on Monday, September 10th. Morgan Stanley boosted their price objective on shares of Apple from $245.00 to $247.00 and gave the company an overweight rating in a research report on Thursday, September 13th. Oppenheimer reaffirmed a neutral rating on shares of Apple in a research report on Monday, October 1st. Finally, Goldman Sachs Group reaffirmed a neutral rating and set a $240.00 price objective on shares of Apple in a research report on Thursday, September 13th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $223.60.

Shares of AAPL stock traded up $1.60 during trading hours on Monday, reaching $203.19. 665,819 shares of the stock traded hands, compared to its average volume of 39,836,684. Apple has a 1-year low of $150.24 and a 1-year high of $233.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09. The firm has a market capitalization of $1,019.79 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.48 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.13. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. The firm’s revenue was up 19.6% compared to the same quarter last year. Sell-side analysts predict that Apple will post 13.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 12th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, November 8th. Apple’s dividend payout ratio is currently 24.52%.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the completion of the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at approximately $24,554,471.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 544,185 shares of company stock valued at $120,312,613. 0.06% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AAPL. Progressive Investment Management Corp raised its stake in shares of Apple by 0.8% in the 3rd quarter. Progressive Investment Management Corp now owns 50,137 shares of the iPhone maker’s stock valued at $11,318,000 after buying an additional 411 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its stake in shares of Apple by 3.5% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 91,839 shares of the iPhone maker’s stock valued at $20,871,000 after buying an additional 3,126 shares in the last quarter. CORDA Investment Management LLC. raised its stake in shares of Apple by 9.6% in the 3rd quarter. CORDA Investment Management LLC. now owns 28,542 shares of the iPhone maker’s stock valued at $6,443,000 after buying an additional 2,497 shares in the last quarter. Gradient Capital Advisors LLC raised its stake in shares of Apple by 1.6% in the 3rd quarter. Gradient Capital Advisors LLC now owns 25,219 shares of the iPhone maker’s stock valued at $5,693,000 after buying an additional 388 shares in the last quarter. Finally, AI Financial Services LLC acquired a new position in shares of Apple in the 3rd quarter valued at $265,000. 58.44% of the stock is owned by institutional investors and hedge funds.

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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