Apple Inc. (NASDAQ:AAPL) had its target price hoisted by Argus from $185.00 to $210.00 in a research report sent to investors on Monday, November 6th, Marketbeat.com reports. They currently have a buy rating on the iPhone maker’s stock.
A number of other research firms have also recently weighed in on AAPL. Barclays PLC reiterated a hold rating and set a $146.00 price objective on shares of Apple in a research report on Monday, September 4th. Royal Bank Of Canada reiterated an outperform rating and set a $180.00 price objective on shares of Apple in a research report on Monday, September 11th. Morgan Stanley reiterated an overweight rating and set a $194.00 price objective (up previously from $182.00) on shares of Apple in a research report on Tuesday, September 12th. Credit Suisse Group reiterated an outperform rating and set a $170.00 price objective on shares of Apple in a research report on Tuesday, July 25th. Finally, Macquarie boosted their price objective on shares of Apple from $170.00 to $180.00 and gave the company an outperform rating in a research report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the stock. Apple presently has an average rating of Buy and an average target price of $200.24.
Apple (NASDAQ AAPL) traded down $0.95 during mid-day trading on Monday, hitting $170.15. 21,665,811 shares of the stock traded hands, compared to its average volume of 29,727,018. Apple has a 1 year low of $108.25 and a 1 year high of $176.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. The stock has a market capitalization of $873,603.19, a P/E ratio of 18.49, a PEG ratio of 1.36 and a beta of 1.23.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping 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 the consensus estimate of $50.71 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. equities analysts expect that Apple will post 11.18 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.48%. Apple’s dividend payout ratio (DPR) is currently 27.39%.
In other news, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the sale, the insider now owns 39,682 shares in the company, valued at $6,839,192.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 268,623 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 410,352 shares of company stock valued at $65,356,512. Insiders own 0.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. Janus Henderson Group PLC grew its stake in Apple by 301.3% during the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after purchasing an additional 15,018,790 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in Apple by 14,030.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after purchasing an additional 4,483,360 shares in the last quarter. Truepoint Inc. grew its stake in Apple by 15,559.4% during the 3rd quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock valued at $4,437,000 after purchasing an additional 4,408,441 shares in the last quarter. Capital Research Global Investors grew its stake in Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Apple by 9,166.4% during the 3rd quarter. Stifel Financial Corp now owns 3,883,754 shares of the iPhone maker’s stock worth $598,497,000 after buying an additional 3,841,842 shares during the last quarter. Hedge funds and other institutional investors own 60.38% of the company’s stock.
Apple Company Profile
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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