Apple’s (AAPL) “Equal Weight” Rating Reiterated at KeyCorp
KeyCorp restated their equal weight rating on shares of Apple Inc. (NASDAQ:AAPL) in a report published on Friday morning. KeyCorp also issued estimates for Apple’s Q4 2017 earnings at $1.92 EPS, FY2017 earnings at $9.06 EPS, Q1 2018 earnings at $3.72 EPS, Q2 2018 earnings at $2.63 EPS, Q3 2018 earnings at $2.13 EPS, Q4 2018 earnings at $2.15 EPS and FY2018 earnings at $10.65 EPS.
AAPL has been the topic of a number of other research reports. UBS AG restated a buy rating and issued a $170.00 target price on shares of Apple in a report on Monday, July 31st. Bank of America Corporation reaffirmed a buy rating and set a $180.00 price target (up from $155.00) on shares of Apple in a research report on Friday, May 12th. Wells Fargo & Co reaffirmed a market perform rating and set a $140.00 price target on shares of Apple in a research report on Saturday, July 22nd. Mizuho reaffirmed a buy rating and set a $150.00 price target on shares of Apple in a research report on Wednesday, May 3rd. Finally, Goldman Sachs Group, Inc. (The) set a $170.00 price target on Apple and gave the company a buy rating in a research report on Saturday, May 20th. Twelve analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $167.57.
Apple (NASDAQ:AAPL) traded up 0.53% on Friday, hitting $156.39. The company’s stock had a trading volume of 20,559,852 shares. The stock has a market cap of $808.50 billion, a PE ratio of 17.76 and a beta of 1.31. Apple has a 12 month low of $102.53 and a 12 month high of $157.40. The firm has a 50 day moving average of $147.04 and a 200-day moving average of $142.60.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter last year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts expect that Apple will post $9.00 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Apple’s (AAPL) “Equal Weight” Rating Reiterated at KeyCorp” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.dailypolitical.com/2017/08/05/apples-aapl-equal-weight-rating-reiterated-at-keycorp.html.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, August 10th. Apple’s dividend payout ratio (DPR) is presently 28.64%.
Apple declared that its Board of Directors has approved a share buyback 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 repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which is available through the SEC website. Also, insider Luca Maestri sold 4,757 shares of the firm’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 transaction, 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. Over the last ninety days, insiders have sold 305,500 shares of company stock worth $46,455,746. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Rafferty Asset Management LLC raised its position in shares of Apple by 723.2% in the fourth quarter. Rafferty Asset Management LLC now owns 52,594 shares of the iPhone maker’s stock valued at $6,091,000 after buying an additional 46,205 shares during the last quarter. Iberiabank Corp raised its position in shares of Apple by 6.7% in the fourth quarter. Iberiabank Corp now owns 11,308 shares of the iPhone maker’s stock valued at $1,310,000 after buying an additional 712 shares during the last quarter. Massmutual Trust Co. FSB ADV acquired a new position in shares of Apple during the fourth quarter valued at about $19,003,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Apple during the fourth quarter valued at about $665,000. Finally, Waratah Capital Advisors Ltd. acquired a new position in shares of Apple during the fourth quarter valued at about $8,304,000. 61.17% of the stock is currently 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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.