Apple Inc. (NASDAQ:AAPL) announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20, Bloomberg Earnings reports. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same period in the previous year, the business earned $1.50 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year.
Apple (NASDAQ:AAPL) traded down $1.21 during trading on Friday, reaching $174.67. The company’s stock had a trading volume of 25,145,500 shares, compared to its average volume of 27,305,193. Apple has a 12-month low of $104.08 and a 12-month high of $176.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market cap of $903,022.81, a price-to-earnings ratio of 19.12, a PEG ratio of 1.41 and a beta of 1.23.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.52 annualized dividend and a yield of 1.44%. Apple’s payout ratio is currently 27.39%.
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In other Apple news, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela J. Ahrendts sold 63,388 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 411,389 shares of company stock worth $65,364,467. Corporate insiders own 0.08% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC lifted its stake in Apple by 1.1% in the third quarter. Ropes Wealth Advisors LLC now owns 70,534 shares of the iPhone maker’s stock valued at $10,871,000 after purchasing an additional 795 shares during the last quarter. Zeke Capital Advisors LLC lifted its position in shares of Apple by 57.3% during the third quarter. Zeke Capital Advisors LLC now owns 97,943 shares of the iPhone maker’s stock worth $15,095,000 after acquiring an additional 35,660 shares in the last quarter. Budros Ruhlin & Roe Inc. lifted its position in shares of Apple by 1.2% during the third quarter. Budros Ruhlin & Roe Inc. now owns 42,188 shares of the iPhone maker’s stock worth $6,502,000 after acquiring an additional 485 shares in the last quarter. Amalgamated Bank lifted its position in shares of Apple by 2.1% during the third quarter. Amalgamated Bank now owns 628,814 shares of the iPhone maker’s stock worth $96,913,000 after acquiring an additional 13,051 shares in the last quarter. Finally, Gould Asset Management LLC CA lifted its position in shares of Apple by 6.1% during the third quarter. Gould Asset Management LLC CA now owns 6,989 shares of the iPhone maker’s stock worth $1,077,000 after acquiring an additional 401 shares in the last quarter. Institutional investors and hedge funds own 60.30% of the company’s stock.
A number of analysts recently commented on the company. Sanford C. Bernstein set a $195.00 price objective on Apple and gave the stock a “buy” rating in a report on Friday, November 3rd. Macquarie set a $188.00 price objective on Apple and gave the stock a “buy” rating in a report on Friday, November 3rd. Atlantic Securities set a $190.00 target price on Apple and gave the stock a “buy” rating in a research note on Friday, November 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $160.08 target price (down previously from $176.00) on shares of Apple in a research note on Wednesday, August 9th. Finally, Robert W. Baird set a $190.00 target price on Apple and gave the stock a “buy” rating in a research note on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $199.14.
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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