Piper Jaffray Companies reiterated their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research note released on Tuesday. Piper Jaffray Companies currently has a $200.00 price objective on the iPhone maker’s stock, up from their previous price objective of $196.00.
Other equities research analysts have also issued reports about the company. BMO Capital Markets reaffirmed an outperform rating and issued a $170.00 price objective on shares of Apple in a research note on Tuesday, July 25th. Nomura reaffirmed a buy rating and issued a $165.00 price objective on shares of Apple in a research note on Wednesday, July 5th. Barclays PLC reaffirmed a hold rating and issued a $146.00 price objective on shares of Apple in a research note on Tuesday, August 15th. Vetr raised Apple from a hold rating to a buy rating and set a $166.96 price objective for the company in a research note on Thursday, August 17th. Finally, J P Morgan Chase & Co set a $165.00 price objective on Apple and gave the company a buy rating in a research note on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. Apple presently has a consensus rating of Buy and an average target price of $198.38.
Apple (NASDAQ AAPL) traded down $0.93 during trading hours on Tuesday, hitting $168.11. The stock had a trading volume of 32,710,040 shares, compared to its average volume of 25,147,278. The firm has a market capitalization of $868.33 billion, a P/E ratio of 18.27 and a beta of 1.23.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. Apple had a return on equity of 36.36% and a net margin of 21.09%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS. research analysts anticipate that Apple will post 10.97 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.50%. Apple’s dividend payout ratio (DPR) is 27.39%.
In other news, CEO Timothy D. Cook sold 268,623 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,177 shares of company stock valued at $85,864,804. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Berkshire Hathaway Inc. increased its stake in shares of Apple by 0.6% during the 2nd quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after purchasing an additional 834,854 shares in the last quarter. Capital Research Global Investors grew its stake in Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after acquiring an additional 3,845,363 shares during the period. Legal & General Group Plc grew its stake in Apple by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after acquiring an additional 771,046 shares during the period. Janus Henderson Group PLC grew its stake in Apple by 301.3% in the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after acquiring an additional 15,018,790 shares during the period. Finally, Swiss National Bank grew its stake in Apple by 0.4% in the 3rd quarter. Swiss National Bank now owns 19,248,516 shares of the iPhone maker’s stock worth $2,966,581,000 after acquiring an additional 79,100 shares during the period. 60.33% of the stock is owned by institutional investors and hedge funds.
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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