Apple (AAPL) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Apple (NASDAQ:AAPL) in a research report released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $265.00 target price on the iPhone maker’s stock. Jefferies Financial Group also issued estimates for Apple’s Q4 2018 earnings at $2.80 EPS, FY2018 earnings at $11.79 EPS, Q1 2019 earnings at $4.96 EPS, Q2 2019 earnings at $3.20 EPS, Q3 2019 earnings at $2.61 EPS, Q4 2019 earnings at $3.15 EPS, FY2019 earnings at $13.97 EPS and FY2020 earnings at $16.11 EPS.

AAPL has been the topic of several other research reports. Loop Capital boosted their price objective on Apple from $195.00 to $210.00 and gave the stock a buy rating in a report on Friday, July 6th. BidaskClub downgraded Apple from a strong-buy rating to a buy rating in a report on Wednesday, September 12th. Morgan Stanley restated a buy rating and set a $247.00 price objective on shares of Apple in a report on Wednesday, September 26th. JPMorgan Chase & Co. restated a buy rating and set a $272.00 price objective on shares of Apple in a report on Wednesday, October 10th. Finally, Royal Bank of Canada restated a buy rating and set a $240.00 price objective on shares of Apple in a report on Tuesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirty have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $225.40.

NASDAQ AAPL opened at $209.85 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. The stock has a market cap of $1,048.40 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.51 and a beta of 1.36. Apple has a 1 year low of $150.24 and a 1 year high of $233.47.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 EPS. On average, sell-side analysts expect that Apple will post 11.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 12th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.39%. Apple’s payout ratio is 31.70%.

In related news, insider Craig Federighi sold 47,796 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $207.50, for a total value of $9,917,670.00. Following the completion of the sale, the insider now owns 412,571 shares of the company’s stock, valued at approximately $85,608,482.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total value of $5,816,500.00. Following the completion of the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at approximately $24,554,471.08. The disclosure for this sale can be found here. In the last three months, insiders sold 544,185 shares of company stock valued at $120,312,613. 0.08% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in AAPL. Summit Trail Advisors LLC boosted its position in Apple by 17,669.4% during the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after purchasing an additional 20,067,124 shares during the period. Cornerstone Wealth Management LLC boosted its position in Apple by 18,553.3% during the second quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after purchasing an additional 16,668,866 shares during the period. Russell Investments Group Ltd. bought a new stake in Apple during the first quarter worth approximately $830,026,000. Private Advisor Group LLC boosted its position in Apple by 1,185.5% during the second quarter. Private Advisor Group LLC now owns 4,320,770 shares of the iPhone maker’s stock worth $800,386,000 after purchasing an additional 3,984,643 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Apple during the second quarter worth approximately $706,904,000. 58.43% of the stock is owned by hedge funds and other institutional investors.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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