Apple Inc. (AAPL) Given Market Perform Rating at Wells Fargo & Company

Wells Fargo & Company reaffirmed their market perform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Tuesday, MarketBeat reports. Wells Fargo & Company currently has a $195.00 price objective on the iPhone maker’s stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets reiterated an outperform rating and set a $170.00 price objective on shares of Apple in a report on Tuesday, July 25th. Barclays PLC restated a hold rating and issued a $146.00 price target on shares of Apple in a research note on Tuesday, August 15th. Vetr upgraded Apple from a hold rating to a buy rating and set a $166.96 price target for the company in a research note on Thursday, August 17th. J P Morgan Chase & Co set a $165.00 price target on Apple and gave the company a buy rating in a research note on Wednesday, July 19th. Finally, Citigroup Inc. set a $170.00 price target on Apple and gave the company a buy rating in a research note on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and forty-six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $200.24.

Apple (NASDAQ AAPL) traded down $0.95 during trading hours on Tuesday, hitting $170.15. The company had a trading volume of 21,665,811 shares, compared to its average volume of 27,215,137. 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 capitalization of $878,480.00, a P/E ratio of 18.62, a PEG ratio of 1.38 and a beta of 1.25. Apple has a fifty-two week low of $108.25 and a fifty-two week high of $176.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. Apple’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. research analysts anticipate that Apple will post 11.15 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This piece was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2017/11/18/apple-inc-aapl-given-market-perform-rating-at-wells-fargo-company.html.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $2.52 annualized dividend and a yield of 1.48%. Apple’s dividend payout ratio (DPR) is 27.42%.

In related news, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 410,352 shares of company stock valued at $65,356,512. 0.08% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in AAPL. Blue Sky Asset Management LLC purchased a new position in Apple during the 2nd quarter worth $108,000. Hefty Wealth Partners raised its position in Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. FNY Managed Accounts LLC raised its position in Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in Apple during the 1st quarter worth $117,000. Finally, Private Vista LLC purchased a new position in Apple during the 2nd quarter worth $122,000. Hedge funds and other institutional investors own 60.38% of the company’s stock.

Apple Company Profile

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.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply