KeyCorp Research Analysts Raise Earnings Estimates for Apple Inc. (AAPL)
Apple Inc. (NASDAQ:AAPL) – Analysts at KeyCorp raised their FY2017 EPS estimates for Apple in a research note issued on Tuesday. KeyCorp analyst A. Hargreaves now expects that the iPhone maker will post earnings per share of $9.07 for the year, up from their prior estimate of $9.06. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Apple’s Q4 2017 earnings at $1.93 EPS, Q1 2018 earnings at $3.91 EPS, Q2 2018 earnings at $2.71 EPS, Q4 2018 earnings at $2.26 EPS and FY2018 earnings at $11.07 EPS.
Several other equities research analysts also recently issued reports on the company. Hilliard Lyons reaffirmed a “buy” rating and issued a $999.00 price target (up from $182.00) on shares of Apple in a research report on Wednesday. Sanford C. Bernstein set a $175.00 price target on Apple and gave the company a “buy” rating in a research report on Wednesday. Barclays PLC set a $146.00 price target on Apple and gave the company a “neutral” rating in a research report on Wednesday. Bank of America Corporation reaffirmed a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Wednesday. Finally, Instinet reaffirmed a “buy” rating and issued a $185.00 price target on shares of Apple in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus target price of $187.54.
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Apple (NASDAQ AAPL) opened at 159.65 on Thursday. The stock has a market cap of $824.63 billion, a P/E ratio of 18.13 and a beta of 1.27. Apple has a one year low of $104.08 and a one year high of $164.94. The company has a 50-day moving average price of $158.37 and a 200-day moving average price of $149.12.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. Apple’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Berkshire Hathaway Inc. grew its holdings in shares of Apple by 0.6% during the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after buying an additional 834,854 shares during the last quarter. Norges Bank acquired a new position in shares of Apple during the fourth quarter valued at about $5,625,709,000. Capital Research Global Investors grew its holdings in shares of Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Apple by 3.0% during the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after buying an additional 771,046 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Apple by 301.3% during the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares during the last quarter. Hedge funds and other institutional investors own 60.45% of the company’s stock.
In other news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now owns 76,250 shares of the company’s stock, valued at $12,367,750. The disclosure for this sale can be found here. Insiders have sold 432,930 shares of company stock valued at $69,008,577 over the last quarter. Corporate insiders own 0.08% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, August 10th. Apple’s dividend payout ratio is currently 28.64%.
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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