UBS Group restated their neutral rating on shares of Apple (NASDAQ:AAPL – Free Report) in a research note published on Wednesday morning, Marketbeat reports. The brokerage currently has a $190.00 price objective on the iPhone maker’s stock.
A number of other analysts have also recently issued reports on AAPL. Piper Sandler upped their target price on Apple from $180.00 to $220.00 and gave the company an overweight rating in a research report on Monday, July 31st. Robert W. Baird upped their target price on Apple from $180.00 to $204.00 and gave the company an outperform rating in a research report on Tuesday, August 1st. Oppenheimer upped their target price on Apple from $195.00 to $220.00 and gave the company an outperform rating in a research report on Friday, August 4th. KeyCorp reissued an overweight rating and issued a $200.00 target price on shares of Apple in a research report on Thursday, September 14th. Finally, Rosenblatt Securities reissued a neutral rating and issued a $198.00 target price on shares of Apple in a research report on Tuesday, September 12th. Ten investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $199.41.
View Our Latest Analysis on Apple
Apple Trading Down 0.9 %
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. As a group, analysts anticipate that Apple will post 6.05 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio is presently 16.13%.
Insider Buying and Selling
In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.
Institutional Trading of Apple
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. Berkshire Hathaway Inc lifted its position in Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after acquiring an additional 20,424,207 shares in the last quarter. State Street Corp increased its stake in Apple by 0.5% in the 2nd quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock valued at $112,288,818,000 after buying an additional 2,616,084 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after buying an additional 569,066,184 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Apple by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 291,538,165 shares of the iPhone maker’s stock valued at $56,396,763,000 after buying an additional 6,367,053 shares during the last quarter. 58.51% of the stock is owned by institutional investors.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Featured Stories
- Five stocks we like better than Apple
- Bank Stocks – Best Bank Stocks to Invest In
- How You Can Reverse Engineer Michael Burry’s Latest Buy
- What is Put Option Volume?
- The Odds Are High Costco Will Declare a Special Dividend SoonÂ
- What Does Downgrade Mean in Investing?
- 3 Mid-Cap Momentum Plays to Ride Into Q4
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.
