Apple Inc. Expected to Earn Q1 2018 Earnings of $3.78 Per Share (AAPL)
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.
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.
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