Apple’s (AAPL) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reiterated their neutral rating on shares of Apple (NASDAQ:AAPL) in a research report released on Wednesday morning,Benzinga reports. They currently have a $270.00 target price on the iPhone maker’s stock.

Other research analysts also recently issued reports about the company. Oppenheimer reiterated a “market perform” rating on shares of Apple in a research note on Friday, July 31st. Wells Fargo & Company restated an “overweight” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Friday, July 31st. KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Monday, June 22nd. Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating in a research report on Monday, August 3rd. Finally, Evercore reissued an “outperform” rating on shares of Apple in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.61.

Apple Price Performance

NASDAQ AAPL opened at $319.97 on Wednesday. The company has a market capitalization of $4.67 trillion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 2.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The business’s fifty day moving average is $315.65 and its 200 day moving average is $290.34. Apple has a fifty-two week low of $225.95 and a fifty-two week high of $344.57.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. Apple’s revenue for the quarter was up 16.4% on a year-over-year basis. Sell-side analysts predict that Apple will post 8.74 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is currently 12.39%.

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total transaction of $456,177.39. Following the transaction, the senior vice president directly owned 35,790 shares of the company’s stock, valued at $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,872 shares of company stock valued at $1,823,201 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AAPL. Avenir Tech Ltd bought a new stake in Apple in the second quarter worth $29,000. Longfellow Investment Management Co. LLC bought a new position in Apple during the second quarter valued at $30,000. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Finally, Timmons Wealth Management LLC purchased a new position in shares of Apple in the 4th quarter worth $69,000. Institutional investors own 67.73% of the company’s stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Sept. 9 product event is generating significant interest under new CEO John Ternus, with expectations for new iPhones, an Apple Watch update and potentially the company’s first foldable iPhone. Citi estimates the foldable device could sell 7.3 million units despite a possible price above $2,000. Citi foldable iPhone sales forecast
• Positive Sentiment: Apple’s latest quarter showed strong momentum, with revenue rising 16.4% year over year and earnings exceeding analyst expectations. Morgan Stanley has also suggested the foldable iPhone could contribute roughly $14 billion in December-quarter revenue if successfully launched. Morgan Stanley foldable iPhone estimate
• Neutral Sentiment: John Ternus has succeeded Tim Cook as CEO, while Cook remains executive chairman. The transition offers continuity through a longtime Apple executive but raises questions about whether Ternus can accelerate Apple’s artificial-intelligence strategy and sustain Cook-era growth. John Ternus becomes Apple CEO
• Negative Sentiment: Reports indicate initial foldable iPhone production was only a few hundred units per day in late August. Tight quality controls and memory shortages could limit launch supply, delay purchases and prevent Apple from fully capturing expected demand. Foldable iPhone production hurdles
• Negative Sentiment: Memory costs have reportedly surged, potentially forcing Apple to raise iPhone prices, absorb lower margins or risk weaker demand. Jefferies has also downgraded AAPL amid skepticism about the foldable product’s market potential. iPhone memory cost concerns
• Negative Sentiment: Apple faces a $2.7 billion UK lawsuit over alleged unfair app-tracking rules and a separate BASF patent lawsuit involving facial-authentication technology, adding regulatory and litigation risk. Apple UK app-tracking lawsuit

About Apple

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.