Goldman Sachs Group Inc reaffirmed their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report report published on Friday morning. Goldman Sachs Group Inc currently has a $170.00 target price on the iPhone maker’s stock, up from their previous target price of $164.00.
AAPL has been the subject of several other research reports. Robert W. Baird reaffirmed an outperform rating and set a $133.00 price target on shares of Apple in a research report on Tuesday, January 24th. UBS Group AG upped their price target on shares of Apple from $165.00 to $200.00 in a research report on Sunday, April 2nd. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Apple in a research report on Tuesday, January 24th. Stifel Nicolaus reaffirmed a reduce rating and set a $115.00 price target on shares of Apple in a research report on Monday, January 23rd. Finally, Cowen and Company reaffirmed an outperform rating and set a $155.00 price target (up previously from $135.00) on shares of Apple in a research report on Thursday, March 16th. Nine research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $156.06.
Apple (NASDAQ:AAPL) opened at 150.25 on Friday. Apple has a 12 month low of $91.50 and a 12 month high of $156.65. The firm’s 50-day moving average is $146.14 and its 200-day moving average is $129.03. The company has a market cap of $783.38 billion, a price-to-earnings ratio of 17.63 and a beta of 1.26.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. Apple had a return on equity of 34.94% and a net margin of 20.73%. The business had revenue of $52.90 billion during the quarter, compared to analyst estimates of $52.61 billion. On average, analysts anticipate that Apple will post $8.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Investors of record on Monday, May 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.68%. Apple’s dividend payout ratio is 27.31%.
In related news, insider Philip W. Schiller sold 47,796 shares of the company’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total value of $6,850,122.72. Following the completion of the sale, the insider now directly owns 94,010 shares of the company’s stock, valued at approximately $13,473,513.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Johny Srouji sold 13,207 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $136.37, for a total value of $1,801,038.59. Following the completion of the sale, the insider now directly owns 98,012 shares of the company’s stock, valued at $13,365,896.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,444 shares of company stock valued at $44,651,521. Insiders own 0.08% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Glacier Peak Capital LLC purchased a new stake in shares of Apple during the fourth quarter worth about $127,000. TrimTabs Asset Management LLC boosted its stake in shares of Apple by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 921 shares of the iPhone maker’s stock worth $132,000 after buying an additional 432 shares during the period. Welch Investments LLC purchased a new stake in shares of Apple during the fourth quarter worth about $146,000. Odey Holdings AG boosted its stake in shares of Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the period. Finally, Sageworth Trust Co boosted its stake in shares of Apple by 22.7% in the first quarter. Sageworth Trust Co now owns 1,082 shares of the iPhone maker’s stock worth $156,000 after buying an additional 200 shares during the period. 58.76% of the stock is owned by hedge funds and other institutional investors.
Apple Company Profile
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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