Apple (AAPL) Given “Neutral” Rating at Goldman Sachs Group

Goldman Sachs Group reaffirmed their neutral rating on shares of Apple (NASDAQ:AAPL) in a research note released on Friday morning. Goldman Sachs Group currently has a $222.00 target price on the iPhone maker’s stock.

Other equities analysts also recently issued reports about the stock. UBS Group started coverage on shares of Apple in a research note on Wednesday, September 12th. Maxim Group raised their price target on shares of Apple to $221.00 and gave the stock an average rating in a research note on Thursday, September 13th. Royal Bank of Canada raised their price target on shares of Apple to $250.00 and gave the stock an average rating in a research note on Wednesday, September 26th. Loop Capital lifted their target price on shares of Apple to $220.00 and gave the stock a buy rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research raised shares of Apple from a hold rating to a buy rating and set a $213.00 target price on the stock in a research note on Wednesday, July 11th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-nine have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $224.67.

Shares of NASDAQ:AAPL traded down $14.74 during midday trading on Friday, hitting $207.48. The company’s stock had a trading volume of 91,040,966 shares, compared to its average volume of 36,949,276. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,019.79 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.47 and a beta of 1.26. Apple has a 12-month low of $150.24 and a 12-month high of $233.47.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share 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 net margin of 22.41% and a return on equity of 46.75%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. On average, analysts expect that Apple will post 13.48 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, November 8th. Apple’s dividend payout ratio is presently 24.52%.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of Apple 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 transaction, the senior vice president now owns 105,538 shares in the company, valued at $24,554,471.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 544,185 shares of company stock valued at $120,312,613. Company insiders own 0.08% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in Apple by 3.0% during the 2nd quarter. FMR LLC now owns 103,652,293 shares of the iPhone maker’s stock worth $19,187,075,000 after acquiring an additional 3,019,688 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after acquiring an additional 20,067,124 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Apple by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,817,792 shares of the iPhone maker’s stock worth $3,668,472,000 after acquiring an additional 207,520 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Apple by 6.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock worth $3,148,443,000 after acquiring an additional 1,030,981 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Apple by 1.8% during the 2nd quarter. Swiss National Bank now owns 16,874,216 shares of the iPhone maker’s stock worth $3,123,586,000 after acquiring an additional 304,600 shares in the last quarter. Hedge funds and other institutional investors own 58.43% of the company’s stock.

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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