Apple Inc. (AAPL) Hits New 12-Month High After Analyst Upgrade
Apple Inc. (NASDAQ:AAPL) shares hit a new 52-week high during mid-day trading on Monday after Argus raised their price target on the stock from $185.00 to $210.00. Argus currently has a buy rating on the stock. Apple traded as high as $174.63 and last traded at $174.57, with a volume of 19271269 shares traded. The stock had previously closed at $172.50.
Several other analysts have also issued reports on the stock. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Monday, July 31st. Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price target on shares of Apple in a research report on Saturday, July 22nd. KeyCorp reiterated an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Morgan Stanley increased their price target on shares of Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Finally, Barclays PLC reiterated a “hold” rating and set a $146.00 price target on shares of Apple in a research report on Monday, September 4th. Seven investment analysts have rated the stock with a hold rating and forty-six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $199.14.
In other news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the sale, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 411,389 shares of company stock worth $65,364,467 over the last three months. 0.08% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at about $400,000. Blue Sky Asset Management LLC purchased a new stake in shares of Apple during the 2nd quarter valued at about $108,000. FNY Managed Accounts LLC boosted its holdings in shares of Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 716 shares during the last quarter. Hefty Wealth Partners boosted its holdings in shares of Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 174 shares during the last quarter. Finally, American Beacon Advisors Inc. purchased a new stake in shares of Apple during the 1st quarter valued at about $117,000. 60.30% of the stock is currently owned by hedge funds and other institutional investors.
The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $896,860.00, a price-to-earnings ratio of 18.75, a PEG ratio of 1.40 and a beta of 1.25.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same quarter last year, the firm posted $1.50 EPS. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts expect that Apple Inc. will post 11.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 27.42%.
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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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