KeyCorp Reiterates “Hold” Rating for Apple Inc. (NASDAQ:AAPL)
Several other research analysts have also recently weighed in on AAPL. Instinet reissued a buy rating and issued a $135.00 price target on shares of Apple in a report on Monday, March 13th. Credit Suisse Group set a $160.00 price target on shares of Apple and gave the company a buy rating in a report on Monday, March 13th. Royal Bank Of Canada increased their price target on shares of Apple from $140.00 to $155.00 and gave the company an outperform rating in a report on Wednesday, March 15th. Goldman Sachs Group Inc reissued a positive rating and issued a $150.00 price target on shares of Apple in a report on Wednesday, March 15th. Finally, Cowen and Company reissued an outperform rating and issued a $155.00 price target (up from $135.00) on shares of Apple in a report on Thursday, March 16th. Twelve research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $167.57.
Shares of Apple (NASDAQ AAPL) opened at 156.39 on Monday. The firm has a market capitalization of $808.50 billion, a P/E ratio of 17.76 and a beta of 1.31. Apple has a 52-week low of $102.53 and a 52-week high of $157.40. The company’s 50-day moving average price is $147.04 and its 200-day moving average price is $142.60.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. On average, equities research analysts expect that Apple will post $9.00 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: “KeyCorp Reiterates “Hold” Rating for Apple Inc. (NASDAQ:AAPL)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another site, it was illegally stolen and republished in violation of United States & international trademark and copyright laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/07/apple-inc-nasdaqaapl-rating-reiterated-by-keycorp-updated-updated-updated.html.
Apple announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 2nd that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, August 10th. Apple’s dividend payout ratio (DPR) is 28.64%.
In related news, insider Daniel J. Riccio sold 11,949 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Luca Maestri sold 4,757 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $154.70, for a total transaction of $735,907.90. Following the sale, the insider now directly owns 3,414 shares in the company, valued at $528,145.80. The disclosure for this sale can be found here. Insiders have sold a total of 230,500 shares of company stock worth $35,357,246 over the last three months. 0.08% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Blue Sky Asset Management LLC bought a new stake in shares of Apple during the second quarter worth about $108,000. Hefty Wealth Partners increased its stake in shares of Apple by 27.6% in the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after buying an additional 174 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Apple during the first quarter worth about $117,000. Private Vista LLC bought a new stake in shares of Apple during the second quarter worth about $122,000. Finally, Glacier Peak Capital LLC bought a new stake in shares of Apple during the fourth quarter worth about $127,000. 61.17% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.