Apple Inc. (NASDAQ:AAPL) – Equities research analysts at KeyCorp lifted their Q1 2018 EPS estimates for shares of Apple in a report issued on Wednesday. KeyCorp analyst A. Hargreaves now forecasts that the iPhone maker will post earnings per share of $3.78 for the quarter, up from their prior forecast of $3.72. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Apple’s Q2 2018 earnings at $2.67 EPS, Q3 2018 earnings at $2.16 EPS, Q4 2018 earnings at $2.20 EPS and FY2018 earnings at $10.84 EPS.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share.

TRADEMARK VIOLATION WARNING: This news story was first published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/09/08/apple-inc-expected-to-earn-q1-2018-earnings-of-3-78-per-share-aapl.html.

Several other equities research analysts have also issued reports on AAPL. UBS AG reiterated a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Thursday, May 11th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $170.00 price target (up from $164.00) on shares of Apple in a research note on Friday, May 12th. Bank of America Corporation reiterated a “buy” rating and issued a $180.00 price target (up from $155.00) on shares of Apple in a research note on Friday, May 12th. Argus reiterated an “outperform” rating and issued a $160.00 price target on shares of Apple in a research note on Monday, May 15th. Finally, Hilliard Lyons lifted their price target 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. Eleven research analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and an average target price of $168.89.

Shares of Apple (NASDAQ:AAPL) opened at 161.26 on Friday. Apple has a one year low of $102.53 and a one year high of $164.94. The company has a 50-day moving average of $157.56 and a 200-day moving average of $148.52. The company has a market capitalization of $832.94 billion, a PE ratio of 18.31 and a beta of 1.27.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.56%. Apple’s payout ratio is 28.64%.

In other news, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $158.13, for a total transaction of $5,000,861.25. Following the transaction, the senior vice president now owns 112,430 shares in the company, valued at $17,778,555.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $161.00, for a total value of $948,612.00. Following the transaction, the insider now owns 70,358 shares in the company, valued at approximately $11,327,638. The disclosure for this sale can be found here. In the last quarter, insiders sold 432,930 shares of company stock worth $69,008,577. Insiders own 0.08% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Saratoga Research & Investment Management boosted its position in Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock valued at $95,840,000 after purchasing an additional 4,137 shares in the last quarter. Pinnacle Bank bought a new stake in Apple during the first quarter valued at about $1,924,000. Green Square Capital LLC boosted its position in Apple by 6.7% during the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock valued at $12,564,000 after purchasing an additional 5,491 shares in the last quarter. Headinvest LLC boosted its position in Apple by 2.5% during the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock valued at $2,347,000 after purchasing an additional 390 shares in the last quarter. Finally, Norges Bank bought a new stake in Apple during the fourth quarter valued at about $5,625,709,000. Hedge funds and other institutional investors own 60.44% of the company’s stock.

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.

Earnings History and Estimates for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.