Apple Inc. (AAPL) Rating Reiterated by Drexel Hamilton
Apple Inc. (NASDAQ:AAPL)‘s stock had its “buy” rating restated by analysts at Drexel Hamilton in a note issued to investors on Sunday. They currently have a $185.00 price target on the iPhone maker’s stock. Drexel Hamilton’s price objective would indicate a potential upside of 65.49% from the stock’s current price.
A number of other research analysts also recently issued reports on the stock. Vetr downgraded shares of Apple from a “strong-buy” rating to a “buy” rating and set a $119.11 target price on the stock. in a research report on Wednesday, November 16th. Brean Capital restated a “buy” rating on shares of Apple in a report on Wednesday, November 2nd. Nomura set a $135.00 price objective on shares of Apple and gave the stock a “buy” rating in a report on Tuesday, November 1st. Cowen and Company restated an “outperform” rating and set a $135.00 price objective on shares of Apple in a report on Monday, October 31st. Finally, Raymond James Financial Inc. restated an “outperform” rating on shares of Apple in a report on Sunday, October 30th. Three equities research 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 issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $128.29.
Apple (NASDAQ:AAPL) opened at 111.79 on Friday. Apple has a 12 month low of $89.47 and a 12 month 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 stock has a 50 day moving average of $113.06 and a 200-day moving average of $105.31.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.01. Apple had a net margin of 21.19% and a return on equity of 35.59%. The company had revenue of $46.85 billion for the quarter, compared to the consensus estimate of $46.88 billion. During the same quarter in the previous year, the company earned $1.96 EPS. Apple’s quarterly revenue was down 9.0% compared to the same quarter last year. Equities research analysts expect that Apple will post $9.04 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, November 3rd. Apple’s payout ratio is currently 27.57%.
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In other news, insider Daniel J. Riccio sold 22,381 shares of the business’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the sale, the insider now directly owns 47,043 shares of the company’s stock, valued at approximately $5,318,681.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 16,950 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $110.03, for a total value of $1,865,008.50. Following the completion of the sale, the chief financial officer now directly owns 12,055 shares of the company’s stock, valued at $1,326,411.65. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Armbruster Capital Management Inc. increased its stake in Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock valued at $116,000 after buying an additional 266 shares during the last quarter. Cedar Wealth Management LLC increased its stake in Apple by 42.9% in the third quarter. Cedar Wealth Management LLC now owns 1,072 shares of the iPhone maker’s stock valued at $121,000 after buying an additional 322 shares during the last quarter. Weaver C. Barksdale & Associates Inc. purchased a new stake in Apple during the third quarter valued at $122,000. Penserra Capital Management LLC increased its stake in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock valued at $103,000 after buying an additional 304 shares during the last quarter. Finally, Live Your Vision LLC purchased a new stake in Apple during the third quarter valued at $135,000. 56.81% 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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