Apple Inc. (AAPL) Upgraded by Vetr Inc. to “Strong-Buy”
Vetr upgraded shares of Apple Inc. (NASDAQ:AAPL) from a buy rating to a strong-buy rating in a research report report published on Tuesday. The brokerage currently has $118.87 price target on the iPhone maker’s stock.
Other equities analysts also recently issued research reports about the company. Brean Capital reiterated a buy rating and set a $125.00 price target on shares of Apple in a report on Wednesday, July 27th. Oppenheimer Holdings Inc. reiterated a market perform rating on shares of Apple in a report on Thursday, August 11th. RBC Capital Markets reiterated an outperform rating and set a $115.00 price target on shares of Apple in a report on Wednesday, July 27th. Macquarie increased their price target on Apple from $112.00 to $115.00 and gave the company an outperform rating in a report on Wednesday, July 27th. Finally, Zacks Investment Research downgraded Apple from a buy rating to a hold rating in a report on Thursday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $128.29.
Shares of Apple (NASDAQ:AAPL) traded up 2.50% during mid-day trading on Tuesday, hitting $109.79. 51,351,473 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $113.48 and a 200-day moving average price of $104.52. The company has a market capitalization of $585.43 billion, a price-to-earnings ratio of 13.21 and a beta of 1.34. Apple has a 52 week low of $89.47 and a 52 week high of $119.92.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. Apple had a return on equity of 35.59% and a net margin of 21.19%. The firm had revenue of $46.85 billion for the quarter, compared to the consensus estimate of $46.88 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. On average, equities analysts anticipate that Apple will post $9.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a $0.57 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.13%. Apple’s dividend payout ratio (DPR) is currently 27.57%.
In related news, CEO Timothy D. Cook sold 334,000 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $35,814,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 110,000 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $106.84, for a total transaction of $11,752,400.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Cordasco Financial Network increased its position in Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock valued at $321,000 after buying an additional 12 shares during the period. Cidel Asset Management Inc. increased its position in Apple by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 4,186 shares of the iPhone maker’s stock valued at $400,000 after buying an additional 13 shares during the period. Boston Standard Wealth Management LLC increased its position in Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock valued at $218,000 after buying an additional 14 shares during the period. Lbmc Investment Advisors LLC increased its position in Apple by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 5,110 shares of the iPhone maker’s stock valued at $489,000 after buying an additional 15 shares during the period. Finally, Summit Financial Strategies Inc. increased its position in Apple by 0.3% in the second quarter. Summit Financial Strategies Inc. now owns 6,533 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.
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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