Goldman Sachs Group, Inc. (The) restated their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note released on Friday, May 12th, MarketBeat reports. They currently have a $170.00 target price on the iPhone maker’s stock, up from their previous target price of $164.00.
Several other brokerages have also commented on AAPL. Bank of America Corporation upped their price objective on shares of Apple from $125.00 to $140.00 and gave the stock a buy rating in a report on Thursday, January 19th. Guggenheim upped their price objective on shares of Apple from $150.00 to $180.00 and gave the stock a buy rating in a report on Tuesday, February 28th. Credit Suisse Group restated an outperform rating and issued a $150.00 price objective on shares of Apple in a report on Wednesday, February 1st. Drexel Hamilton restated a buy rating and issued a $185.00 price objective on shares of Apple in a report on Friday, March 10th. Finally, Cowen and Company restated an outperform rating and issued a $155.00 price objective (up from $135.00) on shares of Apple in a report on Thursday, March 16th. Ten research analysts have rated the stock with a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $160.63.
Apple (AAPL) traded down 1.40% on Friday, hitting $142.27. The stock had a trading volume of 50,361,093 shares. The firm has a market cap of $741.77 billion, a price-to-earnings ratio of 16.69 and a beta of 1.28. Apple has a 52-week low of $91.50 and a 52-week high of $156.65. The company’s 50 day moving average price is $151.22 and its 200 day moving average price is $135.17.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.08. The company had revenue of $52.90 billion for the quarter, compared to analyst estimates of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%. Analysts expect that Apple will post $8.94 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Thursday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.57. Apple’s dividend payout ratio (DPR) is currently 29.47%.
In other Apple news, insider Philip W. Schiller sold 47,796 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total transaction of $6,850,122.72. Following the transaction, the insider now owns 94,010 shares of the company’s stock, valued at approximately $13,473,513.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 11,949 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $155.32, for a total value of $1,855,918.68. Following the transaction, the insider now directly owns 13,049 shares in the company, valued at approximately $2,026,770.68. The disclosure for this sale can be found here. In the last three months, insiders sold 447,411 shares of company stock worth $67,200,745. 0.08% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new position in shares of Apple during the first quarter valued at approximately $117,000. Glacier Peak Capital LLC acquired a new position in shares of Apple during the fourth quarter valued at approximately $127,000. TrimTabs Asset Management LLC increased its position 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 valued at $132,000 after buying an additional 432 shares in the last quarter. Welch Investments LLC acquired a new position in shares of Apple during the fourth quarter valued at approximately $146,000. Finally, Odey Holdings AG increased its position 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 valued at $147,000 after buying an additional 273 shares in the last quarter. 62.06% of the stock is currently 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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