Apple Inc. (AAPL) Given Market Perform Rating at Wells Fargo & Company
Wells Fargo & Company reaffirmed their market perform rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report released on Tuesday morning. Wells Fargo & Company currently has a $195.00 target price on the iPhone maker’s stock.
Several other research firms have also weighed in on AAPL. UBS AG set a $190.00 price objective on Apple and gave the stock a buy rating in a research report on Tuesday. Argus lifted their price objective on Apple from $185.00 to $210.00 and gave the stock a buy rating in a research report on Monday, November 6th. set a $193.00 price objective on Apple and gave the stock a buy rating in a research report on Wednesday, November 1st. Maxim Group reissued a buy rating and issued a $193.00 price objective on shares of Apple in a research report on Thursday, November 2nd. Finally, Citigroup Inc. reissued a buy rating and issued a $200.00 price objective (up from $170.00) on shares of Apple in a research report on Friday, November 3rd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company’s stock. Apple presently has an average rating of Buy and an average price target of $200.12.
Apple (NASDAQ AAPL) traded down $2.63 during mid-day trading on Tuesday, hitting $171.34. The stock had a trading volume of 24,759,602 shares, compared to its average volume of 27,246,713. Apple has a 1 year low of $106.16 and a 1 year high of $176.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The company has a market cap of $868,110.00, a price-to-earnings ratio of 18.91, a PEG ratio of 1.40 and a beta of 1.25.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. During the same period last year, the company posted $1.50 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. equities analysts forecast that Apple will post 11.15 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.47%. Apple’s payout ratio is 27.42%.
In other news, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold a total of 394,711 shares of company stock worth $62,660,786 in the last three months. Insiders own 0.08% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Blue Sky Asset Management LLC bought a new position in shares of Apple in the second quarter worth $108,000. Hefty Wealth Partners increased its holdings 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 purchasing an additional 174 shares during the period. FNY Managed Accounts LLC increased its holdings in shares of Apple by 852.4% in the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the period. American Beacon Advisors Inc. bought a new position in shares of Apple in the first quarter worth $117,000. Finally, Private Vista LLC bought a new position in shares of Apple in the second quarter worth $122,000. 60.38% 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.
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