Apple Inc. (NASDAQ:AAPL) – Equities research analysts at DA Davidson upped their Q2 2019 earnings estimates for Apple in a report released on Friday, November 2nd. DA Davidson analyst T. Forte now expects that the iPhone maker will post earnings per share of $2.64 for the quarter, up from their previous estimate of $2.44. DA Davidson has a “Buy” rating and a $265.00 price target on the stock. DA Davidson also issued estimates for Apple’s Q3 2019 earnings at $2.15 EPS, Q4 2019 earnings at $2.76 EPS, FY2020 earnings at $13.53 EPS, FY2021 earnings at $14.64 EPS, FY2022 earnings at $15.71 EPS and FY2023 earnings at $16.84 EPS.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The firm had revenue of $62.90 billion during the quarter, compared to analyst estimates of $61.55 billion. During the same period in the prior year, the company posted $2.07 earnings per share. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year.
Several other research firms have also issued reports on AAPL. Tigress Financial reiterated a “buy” rating on shares of Apple in a research note on Thursday, August 30th. Robert W. Baird set a $230.00 target price on Apple and gave the stock a “buy” rating in a report on Tuesday, September 4th. New Street Research restated a “sell” rating on shares of Apple in a report on Tuesday, September 18th. Needham & Company LLC increased their target price on Apple from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 13th. Finally, Citigroup decreased their target price on Apple from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $223.60.
Apple stock opened at $201.59 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09. Apple has a 52-week low of $150.24 and a 52-week high of $233.47. The firm has a market cap of $1,019.79 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.48 and a beta of 1.26.
A number of large investors have recently added to or reduced their stakes in AAPL. B. Riley Financial Inc. raised its position in shares of Apple by 27.6% during the first quarter. B. Riley Financial Inc. now owns 17,412 shares of the iPhone maker’s stock worth $2,921,000 after purchasing an additional 3,770 shares during the period. First Hawaiian Bank raised its position in shares of Apple by 33.5% during the second quarter. First Hawaiian Bank now owns 10,012 shares of the iPhone maker’s stock worth $1,854,000 after purchasing an additional 2,510 shares during the period. Roof Advisory Group Inc. raised its position in shares of Apple by 44.0% during the first quarter. Roof Advisory Group Inc. now owns 42,322 shares of the iPhone maker’s stock worth $7,101,000 after purchasing an additional 12,930 shares during the period. Peavine Capital LLC raised its position in shares of Apple by 428.7% during the second quarter. Peavine Capital LLC now owns 6,968 shares of the iPhone maker’s stock worth $1,290,000 after purchasing an additional 5,650 shares during the period. Finally, Nikulski Financial Inc. raised its position in shares of Apple by 1.6% during the first quarter. Nikulski Financial Inc. now owns 26,051 shares of the iPhone maker’s stock worth $4,371,000 after purchasing an additional 407 shares during the period. 58.44% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Jeffrey E. Williams sold 15,652 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $206.86, for a total value of $3,237,772.72. Following the transaction, the chief operating officer now owns 122,837 shares in the company, valued at $25,410,061.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Angela J. Ahrendts sold 14,194 shares of the stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $227.96, for a total value of $3,235,664.24. Following the completion of the transaction, the senior vice president now directly owns 105,538 shares in the company, valued at approximately $24,058,442.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 544,185 shares of company stock worth $120,312,613. 0.06% of the stock is owned by company insiders.
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 issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, November 8th. Apple’s dividend payout ratio is 24.52%.
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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