Apple (NASDAQ:AAPL) is set to announce its earnings results after the market closes on Tuesday, May 1st. Analysts expect the company to announce earnings of $2.84 per share for the quarter.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The company had revenue of $88.29 billion for the quarter, compared to analysts’ expectations of $87.62 billion. During the same period last year, the company earned $3.36 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts expect Apple to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.
Apple stock opened at $165.24 on Tuesday. Apple has a 12-month low of $142.20 and a 12-month high of $183.50. The stock has a market cap of $840,865.50, a price-to-earnings ratio of 17.94, a PEG ratio of 1.26 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24.
Several equities research analysts have issued reports on AAPL shares. Rosenblatt Securities set a $180.00 price target on shares of Apple and gave the stock a “buy” rating in a research note on Tuesday, December 26th. Wells Fargo reaffirmed a “hold” rating and set a $195.00 price target on shares of Apple in a research note on Wednesday, December 27th. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Piper Jaffray reaffirmed a “buy” rating and set a $200.00 price target on shares of Apple in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research raised shares of Apple from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. Apple has a consensus rating of “Buy” and a consensus price target of $203.15.
In other Apple news, insider Luca Maestri sold 39,122 shares of Apple stock in a transaction on Friday, April 13th. The shares were sold at an average price of $174.66, for a total value of $6,833,048.52. Following the completion of the transaction, the insider now owns 64,475 shares of the company’s stock, valued at $11,261,203.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Daniel J. Riccio sold 17,375 shares of Apple stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the completion of the transaction, the senior vice president now directly owns 66,191 shares of the company’s stock, valued at approximately $11,194,221.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,988 shares of company stock valued at $21,336,201. 0.06% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Stone House Investment Management LLC boosted its holdings in Apple by 0.4% in the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after purchasing an additional 6 shares during the period. Jackson Grant Investment Advisers Inc. lifted its stake in Apple by 0.3% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after buying an additional 17 shares during the last quarter. Karp Capital Management Corp lifted its stake in Apple by 1.6% in the second quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after buying an additional 22 shares during the last quarter. Berkeley Capital Partners LLC lifted its stake in Apple by 0.6% in the second quarter. Berkeley Capital Partners LLC now owns 4,369 shares of the iPhone maker’s stock valued at $629,000 after buying an additional 26 shares during the last quarter. Finally, Rainier Group Investment Advisory LLC lifted its stake in Apple by 0.3% in the second quarter. Rainier Group Investment Advisory LLC now owns 14,934 shares of the iPhone maker’s stock valued at $2,151,000 after buying an additional 45 shares during the last quarter. 61.28% of the stock is owned by hedge funds and other 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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