Apple (NASDAQ:AAPL) insider Chris Kondo sold 4,867 shares of the stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $187.00, for a total value of $910,129.00. Following the completion of the transaction, the insider now owns 8,433 shares of the company’s stock, valued at approximately $1,576,971. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
NASDAQ:AAPL opened at $186.31 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.37 and a current ratio of 1.46. Apple has a 1 year low of $142.20 and a 1 year high of $190.37. The company has a market capitalization of $945.34 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.38 and a beta of 1.26.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.69 by $0.04. Apple had a return on equity of 39.97% and a net margin of 21.55%. The business had revenue of $61.14 billion for the quarter, compared to the consensus estimate of $60.94 billion. During the same quarter in the previous year, the company posted $2.10 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. equities analysts expect that Apple will post 11.43 earnings per share for the current fiscal year.
Apple announced that its board has initiated a share buyback program on Tuesday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 11.9% of its shares through open market purchases. Shares repurchase programs are often an indication 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 17th. Shareholders of record on Monday, May 14th were paid a $0.73 dividend. This is an increase from Apple’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 11th. This represents a $2.92 dividend on an annualized basis and a yield of 1.57%. Apple’s payout ratio is presently 31.70%.
Several equities analysts have recently weighed in on the company. Macquarie set a $188.00 price target on Apple and gave the company a “buy” rating in a report on Friday, January 26th. Sanford C. Bernstein set a $195.00 price target on Apple and gave the company a “buy” rating in a report on Wednesday, January 24th. Canaccord Genuity restated a “buy” rating and set a $200.00 price target (up from $195.00) on shares of Apple in a report on Wednesday, January 24th. Morgan Stanley restated a “buy” rating and set a $205.00 price target (up from $200.00) on shares of Apple in a report on Tuesday, January 23rd. Finally, Bank of America restated a “buy” rating and set a $220.00 price target on shares of Apple in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $204.00.
A number of large investors have recently added to or reduced their stakes in the business. Quattro Financial Advisors LLC purchased a new position in shares of Apple in the 1st quarter worth approximately $133,000. Smart Portfolios LLC purchased a new position in shares of Apple in the 1st quarter worth approximately $134,000. Spectrum Financial Alliance Ltd LLC purchased a new position in shares of Apple in the 1st quarter worth approximately $138,000. Macroview Investment Management LLC boosted its holdings in shares of Apple by 220.3% in the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 619 shares during the period. Finally, Oak Point Wealth Management purchased a new position in shares of Apple in the 4th quarter worth approximately $163,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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