Several other research analysts have also weighed in on AAPL. JPMorgan Chase & Co. reissued an overweight rating on shares of Apple in a report on Saturday, October 15th. Stifel Nicolaus reissued a buy rating and set a $130.00 price objective (up from $120.00) on shares of Apple in a report on Saturday, October 15th. Piper Jaffray Cos. reissued an overweight rating and set a $151.00 price objective on shares of Apple in a report on Saturday, October 15th. RBC Capital Markets reissued an outperform rating and set a $125.00 price objective on shares of Apple in a report on Monday, October 17th. Finally, Deutsche Bank AG set a $108.00 price objective on shares of Apple and gave the stock a hold rating in a report on Tuesday, October 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, forty-three have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $129.25.
Apple (NASDAQ:AAPL) opened at 115.59 on Monday. The stock’s 50 day moving average is $113.72 and its 200-day moving average is $104.04. The firm has a market capitalization of $622.85 billion, a price-to-earnings ratio of 13.48 and a beta of 1.22. Apple has a 52 week low of $89.47 and a 52 week high of $123.82.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.01. The business earned $46.85 billion during the quarter, compared to analyst estimates of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.58%. The business’s revenue was down 9.0% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS. On average, equities research analysts expect that Apple will post $9.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Monday, November 7th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 1.97%. Apple’s dividend payout ratio is currently 27.57%.
In other Apple news, SVP D Bruce Sewell sold 23,305 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $107.49, for a total value of $2,505,054.45. Following the transaction, the senior vice president now directly owns 239,329 shares in the company, valued at approximately $25,725,474.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 110,000 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $105.95, for a total value of $11,654,500.00. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in AAPL. Nwam LLC raised its position in shares of Apple by 23.3% in the third quarter. Nwam LLC now owns 72,174 shares of the iPhone maker’s stock worth $8,159,000 after buying an additional 13,652 shares in the last quarter. JLB & Associates Inc. raised its position in shares of Apple by 6.6% in the third quarter. JLB & Associates Inc. now owns 95,100 shares of the iPhone maker’s stock valued at $10,751,000 after buying an additional 5,860 shares during the period. Bollard Group LLC raised its position in shares of Apple by 10.2% in the third quarter. Bollard Group LLC now owns 23,502 shares of the iPhone maker’s stock valued at $2,657,000 after buying an additional 2,184 shares during the period. Barry Investment Advisors LLC raised its position in shares of Apple by 4.4% in the third quarter. Barry Investment Advisors LLC now owns 12,665 shares of the iPhone maker’s stock valued at $1,432,000 after buying an additional 538 shares during the period. Finally, CGOV Asset Management purchased a new position in shares of Apple during the third quarter valued at approximately $775,000. Institutional investors and hedge funds own 56.41% 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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