Apple Inc. (NASDAQ:AAPL) reached a new 52-week high during trading on Monday after Piper Jaffray Companies raised their price target on the stock from $270.00 to $290.00. Piper Jaffray Companies currently has an overweight rating on the stock. Apple traded as high as $267.20 and last traded at $265.27, with a volume of 606911 shares trading hands. The stock had previously closed at $265.76.
Several other equities research analysts have also commented on the stock. Royal Bank of Canada set a $295.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, November 13th. Zacks Investment Research lowered shares of Apple from a “hold” rating to a “sell” rating and set a $248.00 price target for the company. in a research report on Monday, October 14th. Monness Crespi & Hardt boosted their price objective on Apple from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank boosted their price objective on Apple from $210.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. Finally, ValuEngine downgraded Apple from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Apple has a consensus rating of “Hold” and an average target price of $244.54.
In other news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 37,394 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total value of $9,639,799.26. Following the transaction, the director now owns 1,170,677 shares of the company’s stock, valued at $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 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.
The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01. The business has a 50 day simple moving average of $240.62 and a two-hundred day simple moving average of $211.23. The firm has a market cap of $1,166.98 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.25.
Apple (NASDAQ:AAPL) last released its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. The business had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. During the same quarter last year, the firm posted $2.91 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 13.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $3.08 dividend on an annualized basis and a yield of 1.16%. Apple’s payout ratio is 25.90%.
Apple Company Profile (NASDAQ:AAPL)
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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