Apple (AAPL) Research Coverage Started at Cowen

Cowen initiated coverage on shares of Apple (NASDAQ:AAPL) in a research note issued to investors on Thursday, Marketbeat reports. The firm issued an outperform rating and a $220.00 price target on the iPhone maker’s stock.

AAPL has been the subject of several other reports. BidaskClub lowered shares of Apple from a hold rating to a sell rating in a research report on Wednesday, November 28th. HSBC lowered shares of Apple from a buy rating to a hold rating and set a $181.37 target price for the company. in a research report on Sunday, December 9th. Needham & Company LLC cut their target price on shares of Apple from $200.00 to $180.00 and set a buy rating for the company in a research report on Thursday, January 3rd. Morgan Stanley reiterated an overweight rating and issued a $253.00 target price on shares of Apple in a research report on Thursday, November 15th. Finally, Macquarie reiterated a buy rating and issued a $222.00 target price on shares of Apple in a research report on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and twenty-three have issued a buy rating to the stock. Apple currently has an average rating of Hold and a consensus price target of $193.19.

NASDAQ:AAPL traded up $3.04 during midday trading on Thursday, hitting $186.77. The company had a trading volume of 18,998,679 shares, compared to its average volume of 31,247,205. Apple has a 52-week low of $142.00 and a 52-week high of $233.47. The firm has a market capitalization of $889.20 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.17 by $0.01. Apple had a net margin of 22.72% and a return on equity of 50.92%. The company had revenue of $84.31 billion during the quarter, compared to analyst estimates of $84.07 billion. On average, sell-side analysts forecast that Apple will post 11.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Monday, February 11th were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, February 8th. Apple’s dividend payout ratio (DPR) is 24.52%.

In other news, Director Arthur D. Levinson sold 1,521 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $167.71, for a total transaction of $255,086.91. Following the completion of the transaction, the director now directly owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AAPL. Semmax Financial Advisors Inc. purchased a new stake in Apple in the fourth quarter worth about $50,000. Portfolio Solutions LLC purchased a new stake in shares of Apple during the fourth quarter valued at approximately $76,000. Contravisory Investment Management Inc. grew its holdings in shares of Apple by 30.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after buying an additional 144 shares during the last quarter. Truehand Inc purchased a new stake in shares of Apple during the fourth quarter valued at approximately $108,000. Finally, INR Advisory Services LLC purchased a new stake in shares of Apple during the fourth quarter valued at approximately $124,000. 56.40% of the stock is owned by 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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