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.
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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.
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