Apple (AAPL) Earns Neutral Rating from Analysts at Goldman Sachs Group

Goldman Sachs Group initiated coverage on shares of Apple (NASDAQ:AAPL) in a research note published on Wednesday morning. The brokerage issued a neutral rating and a $161.00 target price on the iPhone maker’s stock.

Other equities analysts have also issued research reports about the stock. Drexel Hamilton reissued a buy rating and issued a $208.00 price target on shares of Apple in a research report on Tuesday, October 24th. UBS Group reissued a buy rating and issued a $180.00 price target on shares of Apple in a research report on Monday, October 23rd. Royal Bank of Canada reissued a buy rating and issued a $180.00 price target on shares of Apple in a research report on Monday, October 23rd. Piper Jaffray Companies reissued a buy rating and issued a $196.00 price target on shares of Apple in a research report on Wednesday, October 11th. Finally, Zacks Investment Research raised shares of Apple from a hold rating to a buy rating and set a $175.00 price target on the stock in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Apple currently has a consensus rating of Buy and a consensus target price of $201.72.

Apple (NASDAQ AAPL) opened at $159.54 on Wednesday. The firm has a market cap of $809,510.00, a P/E ratio of 16.41, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. Apple has a 52-week low of $131.12 and a 52-week high of $180.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the Zacks’ consensus estimate of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The company had revenue of $88.29 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same quarter last year, the firm posted $3.36 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. equities analysts expect that Apple will post 11.4 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.58%. Apple’s dividend payout ratio (DPR) is presently 25.93%.

In related news, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total value of $2,695,726.35. Following the completion of the transaction, the insider now directly owns 39,682 shares in the company, valued at approximately $6,839,192.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johny Srouji sold 10,368 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $174.68, for a total value of $1,811,082.24. Following the completion of the transaction, the insider now owns 81,560 shares of the company’s stock, valued at $14,246,900.80. The disclosure for this sale can be found here. Insiders sold a total of 128,412 shares of company stock valued at $22,115,155 over the last quarter. 0.08% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Old Mutual Global Investors UK Ltd. boosted its position in Apple by 17.1% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 853,223 shares of the iPhone maker’s stock worth $144,390,000 after acquiring an additional 124,449 shares during the last quarter. Rational Advisors LLC boosted its position in Apple by 242.2% during the 4th quarter. Rational Advisors LLC now owns 15,913 shares of the iPhone maker’s stock worth $2,694,000 after acquiring an additional 11,263 shares during the last quarter. Carnick & Kubik Group LLC boosted its position in Apple by 136.5% during the 4th quarter. Carnick & Kubik Group LLC now owns 69,909 shares of the iPhone maker’s stock worth $11,830,000 after acquiring an additional 40,350 shares during the last quarter. Brighton Jones LLC boosted its position in Apple by 2.3% during the 4th quarter. Brighton Jones LLC now owns 65,563 shares of the iPhone maker’s stock worth $11,095,000 after acquiring an additional 1,501 shares during the last quarter. Finally, Pegasus Partners Ltd. boosted its position in Apple by 2.9% during the 4th quarter. Pegasus Partners Ltd. now owns 51,881 shares of the iPhone maker’s stock worth $8,780,000 after acquiring an additional 1,475 shares during the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

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About Apple

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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