Apple Inc. (NASDAQ:AAPL – Get Rating) has been given a consensus rating of “Moderate Buy” by the thirty-four ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $182.00.
Several brokerages have issued reports on AAPL. Rosenblatt Securities cut their price target on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Itau BBA Securities initiated coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Citigroup increased their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Loop Capital decreased their price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Finally, KeyCorp increased their price target on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 19th.
Apple Trading Up 0.9 %
Shares of AAPL stock opened at $155.96 on Thursday. The stock has a market cap of $2.51 trillion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.02 and a beta of 1.23. The stock has a 50-day moving average of $157.75 and a 200-day moving average of $156.51. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. Apple has a 1-year low of $129.04 and a 1-year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Apple will post 6.1 earnings per share for the current year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is 15.18%.
Insider Transactions at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Hedge Funds Weigh In On Apple
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Joseph Group Capital Management purchased a new position in shares of Apple in the 4th quarter worth about $1,631,000. Cardinal Capital Management Inc. raised its position in shares of Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC purchased a new position in shares of Apple in the 4th quarter worth about $41,000. Spence Asset Management purchased a new position in shares of Apple in the 2nd quarter worth about $49,000. Finally, Ramsey Quantitative Systems purchased a new position in shares of Apple in the 2nd quarter worth about $55,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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