Apple Inc. (NASDAQ:AAPL) – Equities researchers at Wedbush decreased their FY2019 earnings estimates for shares of Apple in a research report issued to clients and investors on Wednesday, November 28th. Wedbush analyst D. Ives now forecasts that the iPhone maker will post earnings per share of $13.52 for the year, down from their prior forecast of $13.90. Wedbush has a “Outperform” rating and a $275.00 price target on the stock.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. Apple had a net margin of 22.41% and a return on equity of 48.68%. The company had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. During the same quarter in the prior year, the business posted $2.07 EPS. Apple’s quarterly revenue was up 19.6% on a year-over-year basis.
Shares of AAPL opened at $176.69 on Monday. Apple has a 12 month low of $150.24 and a 12 month high of $233.47. The firm has a market cap of $877.75 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.87.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 12th were given a $0.73 dividend. The ex-dividend date was Thursday, November 8th. This represents a $2.92 annualized dividend and a yield of 1.65%. Apple’s dividend payout ratio is 24.52%.
In other Apple news, insider Luca Maestri sold 100,245 shares of the firm’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $228.56, for a total value of $22,911,997.20. Following the sale, the insider now directly owns 91,665 shares in the company, valued at approximately $20,950,952.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the completion of the sale, the senior vice president now owns 105,538 shares in the company, valued at $24,554,471.08. The disclosure for this sale can be found here. Insiders sold a total of 204,845 shares of company stock worth $47,015,677 over the last 90 days. Company insiders own 0.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Gibraltar Capital Management Inc. lifted its holdings in shares of Apple by 0.4% during the 3rd quarter. Gibraltar Capital Management Inc. now owns 59,517 shares of the iPhone maker’s stock worth $13,435,000 after acquiring an additional 235 shares during the period. West Chester Capital Advisors Inc. lifted its holdings in shares of Apple by 1.5% during the 3rd quarter. West Chester Capital Advisors Inc. now owns 15,824 shares of the iPhone maker’s stock worth $3,572,000 after acquiring an additional 236 shares during the period. Ironwood Financial llc lifted its holdings in shares of Apple by 9.5% during the 3rd quarter. Ironwood Financial llc now owns 2,775 shares of the iPhone maker’s stock worth $626,000 after acquiring an additional 241 shares during the period. Capital Investment Services of America Inc. lifted its holdings in shares of Apple by 10.0% during the 3rd quarter. Capital Investment Services of America Inc. now owns 2,703 shares of the iPhone maker’s stock worth $610,000 after acquiring an additional 245 shares during the period. Finally, Anderson Hoagland & Co. lifted its holdings in shares of Apple by 1.3% during the 3rd quarter. Anderson Hoagland & Co. now owns 19,900 shares of the iPhone maker’s stock worth $4,551,000 after acquiring an additional 250 shares during the period. Institutional investors own 57.14% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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