Q4 2022 Earnings Forecast for Apple Inc. Issued By KeyCorp (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPLGet Rating) – Equities research analysts at KeyCorp decreased their Q4 2022 earnings per share (EPS) estimates for Apple in a note issued to investors on Monday, August 1st. KeyCorp analyst B. Nispel now anticipates that the iPhone maker will post earnings per share of $1.25 for the quarter, down from their previous forecast of $1.30. KeyCorp has a “Overweight” rating and a $177.00 price target on the stock. The consensus estimate for Apple’s current full-year earnings is $6.11 per share. KeyCorp also issued estimates for Apple’s Q1 2023 earnings at $2.03 EPS, Q2 2023 earnings at $1.48 EPS, Q4 2023 earnings at $1.33 EPS, FY2023 earnings at $6.30 EPS and FY2024 earnings at $6.63 EPS.

A number of other research analysts also recently issued reports on the company. Barclays boosted their price target on Apple from $166.00 to $169.00 and gave the company a “maintains” rating in a report on Friday, July 29th. set a $175.00 price target on Apple in a report on Friday, July 29th. Itaú Unibanco started coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. The Goldman Sachs Group set a $139.00 price target on Apple in a research note on Friday, July 29th. Finally, Sanford C. Bernstein set a $170.00 price target on Apple in a research note on Monday, May 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $179.21.

Apple Trading Up 3.8 %

Shares of AAPL stock opened at $166.13 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average price of $145.58 and a two-hundred day moving average price of $157.20. Apple has a 12-month low of $129.04 and a 12-month high of $182.94. The firm has a market cap of $2.69 trillion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 2.09 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Apple announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Apple

Several institutional investors and hedge funds have recently bought and sold shares of AAPL. Cardinal Capital Management Inc. grew its holdings in shares of Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC purchased a new stake in shares of Apple during the fourth quarter valued at $41,000. CFS Investment Advisory Services LLC grew its holdings in shares of Apple by 18,263.5% during the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after buying an additional 7,416,445 shares during the last quarter. Spence Asset Management purchased a new stake in shares of Apple during the second quarter valued at $49,000. Finally, HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.

About Apple

(Get Rating)

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.

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