Apple (NASDAQ:AAPL – Get Rating) had its price target hoisted by KeyCorp from $173.00 to $177.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the iPhone maker’s stock.
A number of other research analysts have also recently issued reports on AAPL. Barclays lifted their target price on Apple from $166.00 to $169.00 and gave the company a maintains rating in a research report on Friday, July 29th. Credit Suisse Group set a $166.00 target price on Apple in a research report on Friday, July 29th. Evercore ISI boosted their price target on Apple from $180.00 to $185.00 in a report on Friday, July 29th. Morgan Stanley reduced their price target on Apple from $185.00 to $180.00 and set an overweight rating on the stock in a report on Wednesday, July 20th. Finally, Raymond James reduced their price target on Apple from $190.00 to $185.00 and set a maintains rating on the stock in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $179.16.
Apple Stock Performance
AAPL opened at $160.01 on Tuesday. The firm has a market cap of $2.59 trillion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. Apple has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The business’s fifty day moving average is $145.07 and its 200-day moving average is $157.14.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts expect that Apple will post 6.08 EPS for the current fiscal year.
Apple declared that its Board of Directors has authorized a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s payout ratio is 15.18%.
Institutional Investors Weigh In On Apple
Several institutional investors have recently bought and sold shares of AAPL. Norges Bank bought a new stake in Apple during the fourth quarter worth $25,228,507,000. Aaron Wealth Advisors LLC grew its holdings in Apple by 30,391.8% during the first quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after buying an additional 25,989,570 shares in the last quarter. State Street Corp grew its holdings in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares in the last quarter. Capital Research Global Investors grew its holdings in Apple by 31.7% during the first quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after buying an additional 9,354,484 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after buying an additional 8,734,393 shares in the last quarter. Institutional investors own 57.98% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.