Apple Inc. (NASDAQ:AAPL) had its target price raised by Argus from $185.00 to $210.00 in a research report released on Monday morning, Marketbeat.com reports. The firm currently has a buy rating on the iPhone maker’s stock.
Several other brokerages have also weighed in on AAPL. Barclays PLC reiterated a hold rating and set a $146.00 price objective on shares of Apple in a report on Monday, September 4th. Royal Bank Of Canada restated an outperform rating and issued a $180.00 target price on shares of Apple in a report on Monday, September 11th. Morgan Stanley restated an overweight rating and issued a $194.00 target price (up previously from $182.00) on shares of Apple in a report on Tuesday, September 12th. Credit Suisse Group restated an outperform rating and issued a $170.00 target price on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie upped their target price on shares of Apple from $170.00 to $180.00 and gave the stock an outperform rating in a report on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $199.14.
Shares of Apple (NASDAQ AAPL) traded down $0.91 during midday trading on Monday, hitting $174.97. 15,739,562 shares of the stock traded hands, compared to its average volume of 25,940,000. Apple has a 52-week low of $104.08 and a 52-week high of $176.24. The firm has a market capitalization of $897,890.00, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.42 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion for the quarter, compared to analyst estimates of $50.71 billion. During the same quarter in the prior year, the business earned $1.50 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts forecast that Apple will post 11.15 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 27.42%.
In other Apple news, SVP Johny Srouji sold 10,469 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the completion of the transaction, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip W. Schiller sold 56,808 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. Insiders sold a total of 411,389 shares of company stock valued at $65,364,467 over the last quarter. 0.08% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stone House Investment Management LLC raised its position in Apple by 0.4% during the 2nd quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after buying an additional 6 shares during the last quarter. FC Advisory LLC increased its holdings in shares of Apple by 0.4% during the 2nd quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock valued at $371,000 after purchasing an additional 10 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Apple by 0.3% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after purchasing an additional 17 shares in the last quarter. Lenox Wealth Advisors Inc. increased its holdings in shares of Apple by 0.4% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after purchasing an additional 20 shares in the last quarter. Finally, BerganKDV Wealth Management LLC increased its holdings in shares of Apple by 0.4% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock valued at $809,000 after purchasing an additional 20 shares in the last quarter. 60.30% of the stock is owned by institutional investors.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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