UBS Group Reaffirms “Neutral” Rating for Apple (NASDAQ:AAPL)

UBS Group reiterated their neutral rating on shares of Apple (NASDAQ:AAPLFree Report) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $190.00 price objective on the iPhone maker’s stock.

Other equities research analysts also recently issued research reports about the stock. DZ Bank restated a hold rating and issued a $180.00 target price on shares of Apple in a research note on Thursday, March 28th. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the company a buy rating in a research report on Saturday, May 4th. Wedbush raised their price objective on shares of Apple from $250.00 to $275.00 and gave the stock an outperform rating in a report on Friday, May 24th. Monness Crespi & Hardt reissued a buy rating and issued a $205.00 target price on shares of Apple in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. increased their price target on Apple from $210.00 to $225.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of Moderate Buy and a consensus price target of $207.47.

Check Out Our Latest Research Report on Apple

Apple Stock Performance

NASDAQ:AAPL opened at $214.24 on Tuesday. The firm has a market capitalization of $3.29 trillion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.35 and a beta of 1.25. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple has a 12-month low of $164.07 and a 12-month high of $220.20. The firm has a 50-day moving average price of $182.91 and a 200 day moving average price of $183.93.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. Research analysts anticipate that Apple will post 6.57 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s dividend payout ratio is 15.55%.

Apple declared that its board has authorized a stock repurchase program on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,270 shares of company stock worth $60,880,196. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Conservest Capital Advisors Inc. grew its position in Apple by 0.3% in the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after acquiring an additional 55 shares during the last quarter. Flagstone Financial Management grew its holdings in shares of Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 56 shares during the last quarter. High Pines Wealth Management LLC grew its holdings in shares of Apple by 0.7% in the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after purchasing an additional 58 shares during the last quarter. Asset Planning Corporation increased its stake in Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after buying an additional 59 shares during the period. Finally, Columbus Macro LLC lifted its holdings in Apple by 0.5% during the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after buying an additional 59 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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