Apple Inc. (AAPL) Expected to Post Quarterly Sales of $44.65 Billion
Wall Street analysts predict that Apple Inc. (NASDAQ:AAPL) will post sales of $44.65 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Apple’s earnings, with the highest sales estimate coming in at $45.58 billion and the lowest estimate coming in at $43.96 billion. Apple posted sales of $42.36 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.4%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that Apple will report full year sales of $44.65 billion for the current year, with estimates ranging from $223.32 billion to $230 billion. For the next year, analysts expect that the firm will post sales of $251.03 billion per share, with estimates ranging from $231.04 billion to $277.83 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Apple.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion.
Several equities research analysts have recently issued reports on the stock. Argus restated an “outperform” rating and issued a $160.00 price objective on shares of Apple in a research note on Monday, May 15th. Hilliard Lyons raised their price objective on shares of Apple from $147.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Canaccord Genuity restated a “buy” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Apple in a research note on Tuesday, May 16th. BMO Capital Markets restated an “outperform” rating and issued a $170.00 price objective (up previously from $160.00) on shares of Apple in a research note on Wednesday, May 17th. Finally, Morgan Stanley restated an “overweight” rating and issued a $177.00 price objective (up previously from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Eight research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $157.06.
In other Apple news, insider Philip W. Schiller sold 47,796 shares of the business’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total value of $6,850,122.72. Following the sale, the insider now directly owns 94,010 shares in the company, valued at $13,473,513.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Angela J. Ahrendts sold 75,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $147.98, for a total value of $11,098,500.00. Following the sale, the insider now owns 154,116 shares in the company, valued at $22,806,085.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 420,686 shares of company stock worth $63,066,393. Corporate insiders own 0.08% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. bought a new stake in Apple during the first quarter worth about $117,000. Glacier Peak Capital LLC bought a new stake in Apple during the fourth quarter worth about $127,000. TrimTabs Asset Management LLC raised its stake in Apple by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 921 shares of the iPhone maker’s stock worth $132,000 after buying an additional 432 shares during the last quarter. Welch Investments LLC bought a new stake in Apple during the fourth quarter worth about $146,000. Finally, Odey Holdings AG raised its stake in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the last quarter. Institutional investors own 58.76% of the company’s stock.
Apple (NASDAQ:AAPL) traded down 0.17% on Friday, reaching $153.61. 21,894,660 shares of the company’s stock were exchanged. The stock has a market capitalization of $800.90 billion, a PE ratio of 18.02 and a beta of 1.26. The firm has a 50 day moving average of $147.75 and a 200 day moving average of $130.74. Apple has a 12 month low of $91.50 and a 12 month high of $156.65.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were paid a $0.63 dividend. The ex-dividend date was Thursday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 1.64%. Apple’s payout ratio is presently 27.31%.
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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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