Apple (NASDAQ:AAPL – Free Report) had its price objective boosted by Wedbush from $300.00 to $325.00 in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. Wedbush currently has an outperform rating on the iPhone maker’s stock.
A number of other equities research analysts also recently commented on AAPL. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.47.
Check Out Our Latest Analysis on Apple
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the business earned $1.46 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that Apple will post 7.43 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.
Insider Activity at Apple
In other news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 in the last 90 days. 0.06% of the stock is owned by insiders.
Institutional Investors Weigh In On Apple
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bull Oak Capital LLC grew its holdings in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new position in Apple during the 3rd quarter valued at about $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple during the third quarter worth about $77,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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