Apple’s (AAPL) “Hold” Rating Reaffirmed at Deutsche Bank AG
Deutsche Bank AG restated their hold rating on shares of Apple Inc. (NASDAQ:AAPL) in a research report sent to investors on Friday. The brokerage currently has a $152.00 price objective on the iPhone maker’s stock.
Several other equities analysts have also recently weighed in on AAPL. Oppenheimer Holdings, Inc. reaffirmed a rating on shares of Apple in a research note on Thursday, August 10th. Guggenheim reaffirmed a buy rating and set a $180.00 price target on shares of Apple in a research note on Friday, July 21st. UBS AG reaffirmed a buy rating and set a $170.00 price target on shares of Apple in a research note on Friday, July 21st. J P Morgan Chase & Co set a $165.00 price target on shares of Apple and gave the stock a buy rating in a research note on Wednesday, July 19th. Finally, Vetr cut shares of Apple from a strong-buy rating to a buy rating and set a $165.66 price target for the company. in a research note on Tuesday, July 18th. Seven analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. Apple has a consensus rating of Buy and a consensus price target of $198.38.
Apple (AAPL) traded up $4.39 during midday trading on Friday, reaching $172.50. The company had a trading volume of 58,683,826 shares, compared to its average volume of 25,147,278. Apple has a twelve month low of $104.08 and a twelve month high of $174.26. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.68. The company has a market cap of $891,001.81, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. Apple had a return on equity of 36.36% and a net margin of 21.09%. The business had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. During the same period in the prior year, the business earned $1.50 EPS. Apple’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts anticipate that Apple will post 11.11 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a $0.63 dividend. The ex-dividend date is Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.46%. Apple’s dividend payout ratio is currently 27.39%.
In other news, insider Johny Srouji sold 5,892 shares of Apple stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $161.00, for a total value of $948,612.00. Following the sale, the insider now directly owns 70,358 shares in the company, valued at approximately $11,327,638. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The disclosure for this sale can be found here. Over the last quarter, insiders sold 541,177 shares of company stock worth $85,864,804. Corporate insiders own 0.08% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC lifted its stake in shares of Apple by 301.3% in the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after purchasing an additional 15,018,790 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Apple by 14,030.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after purchasing an additional 4,483,360 shares during the period. Capital Research Global Investors lifted its stake in shares of Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Apple by 200.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,765,574 shares of the iPhone maker’s stock valued at $686,338,000 after purchasing an additional 3,178,809 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Apple by 25.3% in the 2nd quarter. Principal Financial Group Inc. now owns 10,582,632 shares of the iPhone maker’s stock valued at $1,524,110,000 after purchasing an additional 2,138,928 shares during the period. Hedge funds and other institutional investors own 60.33% of the company’s stock.
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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