$61.48 Billion in Sales Expected for Apple Inc. (AAPL) This Quarter
Wall Street analysts expect Apple Inc. (NASDAQ:AAPL) to report $61.48 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Apple’s earnings, with the lowest sales estimate coming in at $60.99 billion and the highest estimate coming in at $61.81 billion. Apple posted sales of $52.90 billion in the same quarter last year, which would indicate a positive year over year growth rate of 16.2%. The business is scheduled to report its next quarterly earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Apple will report full year sales of $61.48 billion for the current fiscal year, with estimates ranging from $253.19 billion to $267.79 billion. For the next financial year, analysts anticipate that the business will report sales of $264.90 billion per share, with estimates ranging from $240.25 billion to $277.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Apple.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The firm had revenue of $88.29 billion during the quarter, compared to the consensus estimate of $87.62 billion. During the same period last year, the business posted $3.36 EPS. The business’s revenue was up 12.7% compared to the same quarter last year.
Shares of Apple (NASDAQ AAPL) traded up $1.88 during trading on Friday, reaching $156.41. The company’s stock had a trading volume of 70,572,480 shares, compared to its average volume of 36,820,000. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.24. Apple has a 52-week low of $131.12 and a 52-week high of $180.10. The firm has a market cap of $800,070.00, a P/E ratio of 16.09, a P/E/G ratio of 1.17 and a beta of 1.33.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $2.52 dividend on an annualized basis and a yield of 1.61%. Apple’s payout ratio is 25.93%.
In other Apple news, insider Eduardo H. Cue sold 65,361 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $171.60, for a total transaction of $11,215,947.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $172.35, for a total transaction of $2,695,726.35. Following the sale, the insider now directly owns 39,682 shares in the company, valued at approximately $6,839,192.70. The disclosure for this sale can be found here. Insiders have sold a total of 128,412 shares of company stock worth $22,115,155 in the last three months. Insiders own 0.08% of the company’s stock.
A number of hedge funds have recently modified their holdings of AAPL. BlackRock Inc. grew its position in Apple by 1.0% in the fourth quarter. BlackRock Inc. now owns 319,715,585 shares of the iPhone maker’s stock worth $54,105,468,000 after acquiring an additional 3,048,055 shares in the last quarter. Berkshire Hathaway Inc. lifted 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 purchasing an additional 834,854 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Apple by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 53,301,694 shares of the iPhone maker’s stock worth $9,020,245,000 after purchasing an additional 360,312 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after acquiring an additional 3,845,363 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Apple by 1.1% during the third quarter. Legal & General Group Plc now owns 26,393,202 shares of the iPhone maker’s stock valued at $4,067,559,000 after acquiring an additional 287,027 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.
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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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