Royal Bank Of Canada restated their outperform rating on shares of Apple Inc. (NASDAQ:AAPL) in a report published on Monday, Marketbeat.com reports. They currently have a $180.00 price target on the iPhone maker’s stock.
A number of other analysts have also issued reports on AAPL. J P Morgan Chase & Co reiterated a buy rating and set a price objective on shares of Apple in a research note on Monday. KeyCorp reiterated a hold rating on shares of Apple in a research note on Thursday, September 7th. Drexel Hamilton reiterated a buy rating and set a $208.00 price objective on shares of Apple in a research note on Thursday, September 7th. Instinet reiterated a buy rating and set a $185.00 price objective (up previously from $175.00) on shares of Apple in a research note on Wednesday, September 6th. Finally, Sanford C. Bernstein reiterated an outperform rating and set a $175.00 price objective on shares of Apple in a research note on Wednesday, September 6th. Eleven equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $187.63.
Apple (NASDAQ AAPL) opened at 158.20 on Monday. The firm has a market cap of $817.14 billion, a PE ratio of 17.96 and a beta of 1.27. The firm’s 50-day moving average is $158.70 and its 200 day moving average is $149.26. Apple has a 12-month low of $104.08 and a 12-month high of $164.94.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a net margin of 20.87% and a return on equity of 35.40%. The firm had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter last year, the firm posted $1.42 earnings per share. Apple’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that Apple will post $9.01 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.59%. Apple’s payout ratio is 28.64%.
In related news, insider Daniel J. Riccio sold 11,949 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the completion of the transaction, the insider now owns 70,358 shares of the company’s stock, valued at $11,327,638. The disclosure for this sale can be found here. Insiders sold 432,930 shares of company stock valued at $69,008,577 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AAPL. Norges Bank acquired a new position in shares of Apple in the fourth quarter valued at $5,625,709,000. Janus Henderson Group PLC raised its stake in shares of Apple by 301.3% in the second 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 raised its stake in shares of Apple by 14,030.2% in the second 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. Capital Research Global Investors raised its stake in shares of Apple by 15.0% in the second 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, Arrowstreet Capital Limited Partnership raised its stake in shares of Apple by 200.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock valued at $686,338,000 after purchasing an additional 3,178,809 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.
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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