Apple (AAPL) Shares to Split on Monday, June 9th
Shares of Apple (NASDAQ:AAPL) are scheduled to split on Monday, June 9th, Analyst Ratings News reports. The 7-1 split was announced on Wednesday, April 23rd. The newly minted shares will be payable to shareholders after the closing bell on Friday, June 6th.
Shares of Apple (NASDAQ:AAPL) traded up 1.13% during mid-day trading on Friday, hitting $614.13. 8,293,213 shares of the company’s stock traded hands. Apple has a 52 week low of $388.87 and a 52 week high of $614.73. The stock’s 50-day moving average is $567.4 and its 200-day moving average is $544.7. The company has a market cap of $529.0 billion and a P/E ratio of 14.55.
Apple (NASDAQ:AAPL) last announced its earnings results on Wednesday, April 23rd. The company reported $11.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $10.13 by $1.49. The company had revenue of $45.65 billion for the quarter, compared to the consensus estimate of $43.55 billion. During the same quarter last year, the company posted $10.09 earnings per share. Apple’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Apple will post $44.09 earnings per share for the current fiscal year.
AAPL has been the subject of a number of recent research reports. Analysts at Erste Group upgraded shares of Apple from a “sell” rating to a “hold” rating in a research note on Monday, May 19th. Separately, analysts at ISi reiterated a “buy” rating on shares of Apple in a research note on Wednesday, May 14th. They now have a $590.00 price target on the stock. Finally, analysts at Monness Crespi & Hardt raised their price target on shares of Apple from $605.00 to $650.00 in a research note on Wednesday, May 14th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $627.27.
Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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