Brokerages expect that Apple Inc. (NASDAQ:AAPL) will report $53.46 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Apple’s earnings, with the lowest sales estimate coming in at $53.12 billion and the highest estimate coming in at $54.13 billion. Apple reported sales of $53.27 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.4%. The business is expected to announce its next earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that Apple will report full-year sales of $256.93 billion for the current year, with estimates ranging from $254.74 billion to $259.50 billion. For the next financial year, analysts anticipate that the firm will report sales of $267.14 billion, with estimates ranging from $258.47 billion to $270.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Apple.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.09. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.73 EPS.

Several analysts have commented on the company. Piper Jaffray Companies upped their price objective on Apple from $201.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein set a $190.00 target price on Apple and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Morgan Stanley increased their target price on Apple from $234.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Jefferies Financial Group increased their target price on Apple from $160.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, Loop Capital increased their target price on Apple to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $211.25.

In other Apple news, insider Luca Maestri sold 51,138 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the sale, the insider now owns 27,448 shares in the company, valued at approximately $5,396,551.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the sale, the chief operating officer now owns 151,187 shares in the company, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. Insiders sold a total of 142,549 shares of company stock valued at $29,300,960 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Castle Rock Wealth Management LLC boosted its holdings in shares of Apple by 24.9% during the first quarter. Castle Rock Wealth Management LLC now owns 12,210 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 2,431 shares during the last quarter. University of Texas Texas AM Investment Managment Co. boosted its holdings in shares of Apple by 505.0% during the first quarter. University of Texas Texas AM Investment Managment Co. now owns 242 shares of the iPhone maker’s stock worth $46,000 after purchasing an additional 202 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new stake in shares of Apple during the fourth quarter worth $50,000. Portfolio Solutions LLC acquired a new stake in shares of Apple during the fourth quarter worth $76,000. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of Apple by 30.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock worth $97,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 57.36% of the company’s stock.

AAPL opened at $186.60 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85. The company has a market cap of $928.96 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.60 and a beta of 1.14. Apple has a 52 week low of $142.00 and a 52 week high of $233.47.

Apple declared that its board has authorized a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $0.77 dividend. This is an increase from Apple’s previous quarterly dividend of $0.73. This represents a $3.08 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 25.86%.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Earnings History and Estimates for Apple (NASDAQ:AAPL)

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