Royal Bank of Canada set a $295.00 target price on Apple (NASDAQ:AAPL) in a research note published on Wednesday, Borsen Zeitung reports. The firm currently has a buy rating on the iPhone maker’s stock.
Several other research firms have also recently weighed in on AAPL. BidaskClub upgraded shares of Apple from a buy rating to a strong-buy rating in a research report on Friday, September 27th. ValuEngine cut shares of Apple from a buy rating to a hold rating in a research report on Monday, October 7th. Monness Crespi & Hardt boosted their price objective on shares of Apple from $265.00 to $300.00 and gave the stock a buy rating in a research report on Thursday, October 31st. Longbow Research upgraded shares of Apple from a neutral rating to a buy rating and set a $260.00 price objective for the company in a research report on Thursday, October 10th. Finally, DZ Bank upgraded shares of Apple from a hold rating to a buy rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Apple presently has an average rating of Hold and a consensus target price of $244.54.
NASDAQ AAPL traded up $3.12 on Wednesday, hitting $265.76. 24,924,500 shares of the stock traded hands, compared to its average volume of 24,288,972. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average of $240.62 and a 200 day moving average of $211.23. Apple has a twelve month low of $142.00 and a twelve month high of $265.78. The company has a market capitalization of $1,166.98 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.25.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm had revenue of $64.04 billion during the quarter, compared to analysts’ expectations of $62.86 billion. During the same quarter in the previous year, the company posted $2.91 EPS. Apple’s revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts expect that Apple will post 13.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Thursday, November 7th. Apple’s dividend payout ratio (DPR) is 25.90%.
In other news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 37,394 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the completion of the transaction, the director now directly owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The disclosure for this sale can be found here. Insiders sold a total of 448,158 shares of company stock valued at $97,019,630 in the last three months. 0.05% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. increased its holdings in shares of Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after acquiring an additional 1,262 shares during the last quarter. Bath Savings Trust Co grew its stake in Apple by 0.9% during the 2nd quarter. Bath Savings Trust Co now owns 112,944 shares of the iPhone maker’s stock worth $22,354,000 after buying an additional 1,036 shares during the last quarter. Thomasville National Bank grew its stake in Apple by 1.0% during the 2nd quarter. Thomasville National Bank now owns 108,085 shares of the iPhone maker’s stock worth $21,392,000 after buying an additional 1,036 shares during the last quarter. Private Trust Co. NA grew its stake in Apple by 0.9% during the 2nd quarter. Private Trust Co. NA now owns 72,299 shares of the iPhone maker’s stock worth $14,309,000 after buying an additional 623 shares during the last quarter. Finally, Silverleafe Capital Partners LLC grew its stake in Apple by 1.6% during the 2nd quarter. Silverleafe Capital Partners LLC now owns 34,561 shares of the iPhone maker’s stock worth $6,840,000 after buying an additional 539 shares during the last quarter. 59.62% of the stock is owned by hedge funds and other institutional investors.
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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