Apple Inc. (AAPL) Rating Reiterated by Wells Fargo & Co
Apple Inc. (NASDAQ:AAPL)‘s stock had its “neutral” rating reiterated by equities researchers at Wells Fargo & Co in a research note issued on Thursday.
Several other brokerages have also issued reports on AAPL. Longbow Research reissued a “buy” rating and issued a $162.00 price target on shares of Apple in a report on Wednesday. Canaccord Genuity boosted their price target on shares of Apple from $140.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Pacific Crest reissued an “overweight” rating and issued a $129.00 price target on shares of Apple in a report on Tuesday, January 31st. Stifel Nicolaus boosted their price target on shares of Apple from $115.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 1st. Finally, Keefe, Bruyette & Woods set a $170.00 price target on shares of Apple and gave the company a “buy” rating in a report on Monday, May 22nd. Eight investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $157.06.
Shares of Apple (NASDAQ:AAPL) traded down 0.17% during trading on Thursday, reaching $153.61. The company’s stock had a trading volume of 21,927,637 shares. The company’s 50-day moving average is $147.91 and its 200-day moving average is $130.91. The company has a market capitalization of $800.90 billion, a P/E ratio of 18.02 and a beta of 1.26. Apple has a 12 month low of $91.50 and a 12 month high of $156.65.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $52.61 billion. On average, analysts forecast that Apple will post $8.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a $0.63 dividend. This is an increase 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 of this dividend was Thursday, May 11th. Apple’s dividend payout ratio is currently 27.31%.
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In related news, insider Luca Maestri sold 6,308 shares of the stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total value of $894,663.64. Following the completion of the transaction, the insider now directly owns 2,665 shares of the company’s stock, valued at approximately $377,976.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP D Bruce Sewell sold 67,500 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $148.76, for a total value of $10,041,300.00. Following the completion of the transaction, the senior vice president now directly owns 141,325 shares of the company’s stock, valued at $21,023,507. The disclosure for this sale can be found here. Over the last three months, insiders sold 420,686 shares of company stock valued at $63,066,393. 0.08% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. American Beacon Advisors Inc. bought a new stake in shares of Apple during the first quarter worth about $117,000. TrimTabs Asset Management LLC increased its stake in shares of 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 period. Sageworth Trust Co increased its stake in shares of Apple by 22.7% in the first quarter. Sageworth Trust Co now owns 1,082 shares of the iPhone maker’s stock worth $156,000 after buying an additional 200 shares during the period. Glacier Peak Capital LLC bought a new stake in shares of Apple during the fourth quarter worth about $127,000. Finally, Portfolio Solutions LLC bought a new stake in shares of Apple during the first quarter worth about $169,000. 58.76% of the stock is owned by institutional investors and hedge funds.
Apple Company Profile
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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