Apple Inc. (AAPL) Given Buy Rating at Drexel Hamilton
Drexel Hamilton reissued their buy rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report sent to investors on Sunday morning. Drexel Hamilton currently has a $185.00 price objective on the iPhone maker’s stock.
Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Co. reissued a market perform rating and issued a $112.50 price objective on shares of Apple in a research report on Wednesday, October 26th. Stifel Nicolaus cut shares of Apple from a buy rating to a hold rating and lowered their price objective for the company from $130.00 to $115.00 in a research report on Wednesday, October 26th. Morgan Stanley reissued an outperform rating and issued a $148.00 price objective (up from $124.00) on shares of Apple in a research report on Wednesday, October 26th. Robert W. Baird set a $133.00 price target on shares of Apple and gave the stock a buy rating in a research report on Wednesday, October 26th. Finally, Macquarie reaffirmed an outperform rating and issued a $132.00 price target on shares of Apple in a research report on Wednesday, October 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $128.29.
Apple (NASDAQ:AAPL) opened at 111.79 on Friday. Apple has a 52 week low of $89.47 and a 52 week high of $119.86. The company has a market cap of $596.10 billion, a P/E ratio of 13.45 and a beta of 1.34. The firm’s 50 day moving average is $113.06 and its 200-day moving average is $105.31.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, beating the consensus estimate of $1.66 by $0.01. The company had revenue of $46.85 billion for the quarter, compared to the consensus estimate of $46.88 billion. Apple had a net margin of 21.19% and a return on equity of 35.59%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 EPS. On average, analysts predict that Apple will post $9.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, November 3rd. Apple’s dividend payout ratio is presently 27.57%.
In other news, CEO Timothy D. Cook sold 49,883 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $106.19, for a total transaction of $5,297,075.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 110,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $105.95, for a total value of $11,654,500.00. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AAPL. RWC Asset Management LLP bought a new stake in shares of Apple during the third quarter valued at approximately $6,445,000. Efficient Advisors LLC bought a new stake in shares of Apple during the third quarter valued at approximately $367,000. Auxier Asset Management raised its stake in shares of Apple by 0.7% in the third quarter. Auxier Asset Management now owns 7,555 shares of the iPhone maker’s stock valued at $854,000 after buying an additional 50 shares in the last quarter. Edmond DE Rothschild Monaco bought a new stake in shares of Apple during the third quarter valued at approximately $2,499,000. Finally, Sheets Smith Wealth Management raised its stake in shares of Apple by 0.8% in the third quarter. Sheets Smith Wealth Management now owns 35,785 shares of the iPhone maker’s stock valued at $4,045,000 after buying an additional 279 shares in the last quarter. Institutional investors and hedge funds own 56.81% 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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