Equities analysts expect that Apple Inc. (NASDAQ:AAPL) will report sales of $61.48 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Apple’s earnings, with the highest sales estimate coming in at $61.81 billion and the lowest estimate coming in at $60.99 billion. Apple posted sales of $52.90 billion during the same quarter last year, which suggests a positive year over year growth rate of 16.2%. The business is scheduled to announce its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that Apple will report full year sales of $61.48 billion for the current fiscal year, with estimates ranging from $253.19 billion to $267.79 billion. For the next financial year, analysts expect that the firm will post sales of $264.90 billion per share, with estimates ranging from $240.25 billion to $277.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Apple.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.82 by $0.07. The firm had revenue of $88.29 billion for the quarter, compared to the consensus estimate of $87.62 billion. Apple had a net margin of 21.13% and a return on equity of 37.37%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $3.36 earnings per share.
A number of equities analysts have commented on AAPL shares. Citigroup reaffirmed a “buy” rating and set a $200.00 target price on shares of Apple in a research note on Wednesday, December 13th. Drexel Hamilton reaffirmed a “buy” rating and set a $208.00 target price on shares of Apple in a research note on Tuesday, October 24th. Bank of America downgraded shares of Apple from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $180.00 to $220.00 in a research note on Wednesday, January 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $200.00 target price (up from $196.00) on shares of Apple in a research note on Tuesday, October 31st. Finally, Cascend Securities lifted their target price on shares of Apple from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $201.72.
Apple (NASDAQ AAPL) traded up $1.63 during trading hours on Friday, hitting $164.34. 32,482,345 shares of the stock traded hands, compared to its average volume of 39,930,000. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $833,860.00, a P/E ratio of 16.91, a P/E/G ratio of 1.18 and a beta of 1.33. Apple has a 12-month low of $132.75 and a 12-month high of $180.10.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be given a $0.63 dividend. The ex-dividend date is Friday, February 9th. This represents a $2.52 annualized dividend and a yield of 1.53%. Apple’s dividend payout ratio (DPR) is 25.93%.
In other Apple news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total value of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the completion of the transaction, the insider now directly owns 17,341 shares in the company, valued at $2,942,594.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,771 shares of company stock valued at $19,419,429. 0.06% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in AAPL. Nadler Financial Group Inc. grew its stake in shares of Apple by 0.6% during the 2nd quarter. Nadler Financial Group Inc. now owns 57,034 shares of the iPhone maker’s stock worth $8,214,000 after purchasing an additional 317 shares during the period. Gemmer Asset Management LLC grew its stake in Apple by 13.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 8,650 shares of the iPhone maker’s stock valued at $1,246,000 after acquiring an additional 1,034 shares during the last quarter. Mascoma Wealth Management LLC grew its stake in Apple by 5.2% in the 2nd quarter. Mascoma Wealth Management LLC now owns 11,887 shares of the iPhone maker’s stock valued at $1,712,000 after acquiring an additional 587 shares during the last quarter. Texan Capital Management grew its stake in Apple by 1.6% in the 2nd quarter. Texan Capital Management now owns 25,591 shares of the iPhone maker’s stock valued at $3,686,000 after acquiring an additional 393 shares during the last quarter. Finally, Jacobs & Co. CA grew its stake in Apple by 2.8% in the 2nd quarter. Jacobs & Co. CA now owns 108,867 shares of the iPhone maker’s stock valued at $15,679,000 after acquiring an additional 2,958 shares during the last quarter. 60.18% of the stock is currently owned by institutional investors.
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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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