A number of other research firms also recently issued reports on AAPL. Barclays dropped their price target on Apple from $156.00 to $144.00 and set an equal weight rating on the stock in a research note on Monday, November 7th. Bank of America lowered their target price on Apple from $160.00 to $154.00 and set a neutral rating on the stock in a research report on Monday, November 7th. Monness Crespi & Hardt initiated coverage on Apple in a research report on Thursday, September 8th. They set a buy rating and a $174.00 target price on the stock. Itau BBA Securities initiated coverage on Apple in a research report on Tuesday, July 26th. They set an underperform rating and a $136.00 target price on the stock. Finally, Sanford C. Bernstein set a $170.00 target price on Apple in a research report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $176.26.
Apple Stock Up 0.6 %
Apple stock opened at $151.07 on Wednesday. The firm has a market cap of $2.40 trillion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.89 and a beta of 1.25. Apple has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The stock has a fifty day simple moving average of $146.70 and a two-hundred day simple moving average of $149.66.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. Equities analysts predict that Apple will post 6.26 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Apple’s payout ratio is 15.06%.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Apple news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 8,053 shares of the company’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at $19,414,510.50. The disclosure for this sale can be found here. Insiders sold a total of 380,851 shares of company stock worth $56,707,789 over the last 90 days. Company insiders own 0.06% of the company’s stock.
Hedge Funds Weigh In On Apple
A number of large investors have recently made changes to their positions in AAPL. Aaron Wealth Advisors LLC increased its position in shares of Apple by 30,391.8% during the first quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after purchasing an additional 25,989,570 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Apple in the 3rd quarter valued at $1,890,884,000. Barclays PLC increased its position in shares of Apple by 53.0% in the 3rd quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock valued at $4,178,590,000 after acquiring an additional 10,471,342 shares during the period. Legal & General Group Plc increased its position in shares of Apple by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after acquiring an additional 9,411,018 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Apple by 31.7% in the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after acquiring an additional 9,354,484 shares during the period. 57.72% of the stock is owned by institutional investors and hedge funds.
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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