Apple’s (AAPL) Equal Weight Rating Reaffirmed at Barclays PLC
Several other research firms have also recently issued reports on AAPL. UBS AG set a $165.00 price target on shares of Apple and gave the company a buy rating in a report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed an outperform rating and issued a $160.08 price target (down from $176.00) on shares of Apple in a report on Wednesday, August 9th. Longbow Research reaffirmed a buy rating and issued a $173.00 price target on shares of Apple in a report on Friday, August 11th. Instinet reaffirmed a buy rating and issued a $175.00 price target (up from $165.00) on shares of Apple in a report on Wednesday, August 2nd. Finally, KeyCorp reaffirmed an equal weight rating on shares of Apple in a report on Friday, August 4th. Eleven research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Apple has an average rating of Buy and an average target price of $167.73.
Shares of Apple (NASDAQ AAPL) traded up 0.67% during trading on Thursday, reaching $160.33. 19,380,575 shares of the company were exchanged. The firm has a 50-day moving average price of $153.45 and a 200-day moving average price of $146.55. The stock has a market capitalization of $828.14 billion, a P/E ratio of 18.20 and a beta of 1.31. Apple has a 1-year low of $102.53 and a 1-year high of $162.51.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.10. The business had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 earnings per share. Equities research analysts predict that Apple will post $9.02 earnings per share for the current fiscal year.
WARNING: This piece was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/25/apples-aapl-equal-weight-rating-reaffirmed-at-barclays-plc.html.
Apple announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 2nd that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.
In other news, insider Luca Maestri sold 4,757 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $154.70, for a total transaction of $735,907.90. Following the sale, the insider now owns 3,414 shares in the company, valued at approximately $528,145.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Johny Srouji sold 10,019 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $153.96, for a total value of $1,542,525.24. Following the sale, the insider now owns 91,291 shares in the company, valued at approximately $14,055,162.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,140 shares of company stock worth $29,045,404. Company insiders own 0.08% of the company’s stock.
Several large investors have recently made changes to their positions in AAPL. Berkshire Hathaway Inc. boosted its stake in Apple by 0.6% in the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after buying an additional 834,854 shares during the period. Norges Bank acquired a new stake in Apple during the fourth quarter worth $5,625,709,000. Capital Research Global Investors boosted its stake in Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after buying an additional 3,845,363 shares during the period. Legal & General Group Plc boosted its stake in Apple by 3.0% in the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after buying an additional 771,046 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after buying an additional 15,018,790 shares during the period. Institutional investors own 61.50% of the company’s stock.
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.