Apple’s (AAPL) Outperform Rating Reaffirmed at Oppenheimer Holdings Inc.
Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reissued by Oppenheimer Holdings Inc. in a report issued on Thursday.
Several other research firms have also recently weighed in on AAPL. Argus reissued an “outperform” rating and issued a $160.00 target price on shares of Apple in a research note on Monday, May 15th. Hilliard Lyons raised their target price on shares of Apple from $147.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price (up from $165.00) on shares of Apple in a research note on Tuesday, May 16th. BMO Capital Markets reissued an “outperform” rating and issued a $170.00 target price (up from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $177.00 target price (up from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Eight investment analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apple presently has an average rating of “Buy” and a consensus price target of $157.06.
Apple (NASDAQ:AAPL) traded up 0.4002% during mid-day trading on Thursday, hitting $153.9536. 9,799,239 shares of the company traded hands. Apple has a one year low of $91.50 and a one year high of $156.65. The stock has a market capitalization of $802.69 billion, a price-to-earnings ratio of 18.0612 and a beta of 1.26. The company’s 50-day moving average is $147.47 and its 200-day moving average is $130.57.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.08. Apple had a net margin of 20.73% and a return on equity of 34.94%. The business had revenue of $52.90 billion during the quarter, compared to analysts’ expectations of $52.61 billion. Analysts predict that Apple will post $8.94 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were issued a dividend of $0.63 per share. This is a boost from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.64%. The ex-dividend date was Thursday, May 11th. Apple’s dividend payout ratio is currently 27.31%.
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In related news, insider Eduardo H. Cue sold 45,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $153.78, for a total transaction of $6,920,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip W. Schiller sold 47,796 shares of the stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total transaction of $6,850,122.72. Following the transaction, the insider now directly owns 94,010 shares of the company’s stock, valued at $13,473,513.20. The disclosure for this sale can be found here. Insiders have sold 356,186 shares of company stock valued at $53,157,903 over the last three months. 0.08% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Norges Bank purchased a new position in Apple during the fourth quarter valued at about $5,625,709,000. Asset Management One Co. Ltd. boosted its position in Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock valued at $1,096,072,000 after buying an additional 8,571,027 shares in the last quarter. Vanguard Group Inc. boosted its position in Apple by 1.8% in the first quarter. Vanguard Group Inc. now owns 343,783,273 shares of the iPhone maker’s stock valued at $49,387,905,000 after buying an additional 6,237,609 shares in the last quarter. FMR LLC boosted its position in Apple by 3.7% in the first quarter. FMR LLC now owns 163,812,996 shares of the iPhone maker’s stock valued at $23,533,376,000 after buying an additional 5,830,423 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Apple by 14.1% in the first quarter. Wellington Management Group LLP now owns 40,313,026 shares of the iPhone maker’s stock valued at $5,791,369,000 after buying an additional 4,991,639 shares in the last quarter. 58.76% of the stock is owned by hedge funds and other institutional investors.
Apple Inc (Apple) 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. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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