Longbow Research restated their hold rating on shares of Apple (NASDAQ:AAPL) in a research note published on Monday, TipRanks reports.
Several other brokerages have also weighed in on AAPL. Cascend Securities reissued a buy rating and issued a $240.00 price objective (up previously from $210.00) on shares of Apple in a report on Thursday, June 20th. Jefferies Financial Group raised their target price on Apple from $160.00 to $210.00 and gave the stock a hold rating in a research note on Wednesday, May 1st. Citigroup raised their target price on Apple from $205.00 to $250.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Rosenblatt Securities restated a sell rating and issued a $150.00 target price on shares of Apple in a research note on Monday, July 8th. Finally, Bank of America raised their target price on Apple from $230.00 to $240.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $217.12.
AAPL traded down $6.22 during trading hours on Monday, hitting $202.75. The stock had a trading volume of 2,720,060 shares, compared to its average volume of 29,189,367. The firm’s fifty day simple moving average is $203.54. Apple has a 1 year low of $142.00 and a 1 year high of $233.47. The stock has a market capitalization of $908.31 billion, a PE ratio of 17.09, a PEG ratio of 1.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. During the same quarter last year, the firm posted $2.34 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts predict that Apple will post 11.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 12th will be given a $0.77 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a yield of 1.52%. Apple’s payout ratio is 25.86%.
Apple declared that its Board of Directors has approved a share buyback program on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Apple news, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the completion of the transaction, the director now directly owns 1,150,783 shares in the company, valued at $246,290,577.66. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of AAPL. Roanoke Asset Management Corp NY grew its stake in Apple by 1.1% in the second quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock worth $873,000 after purchasing an additional 50 shares during the period. Guardian Life Insurance Co. of America grew its stake in Apple by 0.4% in the second quarter. Guardian Life Insurance Co. of America now owns 12,970 shares of the iPhone maker’s stock worth $2,567,000 after purchasing an additional 51 shares during the period. Monument Capital Management grew its stake in Apple by 2.2% in the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after purchasing an additional 53 shares during the period. Landmark Financial Advisors LLC grew its stake in Apple by 0.7% in the second quarter. Landmark Financial Advisors LLC now owns 7,357 shares of the iPhone maker’s stock worth $1,456,000 after purchasing an additional 53 shares during the period. Finally, MA Private Wealth grew its stake in Apple by 0.3% in the second quarter. MA Private Wealth now owns 16,134 shares of the iPhone maker’s stock worth $3,193,000 after purchasing an additional 56 shares during the period. 59.67% of the stock is currently owned by hedge funds and other institutional investors.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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