Apple Inc. (NASDAQ:AAPL) shares reached a new 52-week high on Monday after Vetr upgraded the stock from a hold rating to a buy rating. Vetr now has a $138.77 price target on the stock. Apple traded as high as $133.60 and last traded at $133.58, with a volume of 1,799,108 shares traded. The stock had previously closed at $132.12.
Several other research analysts have also issued reports on AAPL. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $124.00 target price on shares of Apple in a research report on Monday, October 24th. Robert W. Baird reiterated an “outperform” rating and issued a $133.00 target price on shares of Apple in a research report on Tuesday, January 24th. Drexel Hamilton reiterated a “buy” rating and issued a $185.00 target price on shares of Apple in a research report on Thursday, December 8th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Apple in a research report on Sunday, October 30th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating on shares of Apple in a research report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $135.45.
In other news, insider Chris Kondo sold 2,649 shares of Apple stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $128.05, for a total transaction of $339,204.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Luca Maestri sold 2,300 shares of Apple stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $117.67, for a total value of $270,641.00. Following the sale, the insider now directly owns 4,632 shares in the company, valued at approximately $545,047.44. The disclosure for this sale can be found here. Insiders have sold a total of 336,275 shares of company stock worth $41,954,409 in the last three months. 0.08% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Armbruster Capital Management Inc. raised its stake in shares of Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock valued at $116,000 after buying an additional 266 shares in the last quarter. Weaver C. Barksdale & Associates Inc. acquired a new position in Apple during the third quarter worth approximately $122,000. Glacier Peak Capital LLC acquired a new position in Apple during the fourth quarter worth approximately $127,000. D. Scott Neal Inc. raised its position in Apple by 701.3% in the third quarter. D. Scott Neal Inc. now owns 1,202 shares of the iPhone maker’s stock worth $136,000 after buying an additional 1,052 shares in the last quarter. Finally, Welch Investments LLC acquired a new position in Apple during the fourth quarter worth approximately $146,000. 58.76% of the stock is currently owned by institutional investors.
The firm has a market cap of $708.39 billion, a P/E ratio of 16.21 and a beta of 1.26. The company has a 50-day moving average price of $122.68 and a 200-day moving average price of $114.25.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.14. The company had revenue of $78.35 billion for the quarter, compared to analyst estimates of $77.37 billion. Apple had a return on equity of 34.94% and a net margin of 20.73%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.28 earnings per share. On average, equities research analysts expect that Apple Inc. will post $8.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 16th. Stockholders of record on Monday, February 13th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, February 9th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.69%. Apple’s dividend payout ratio (DPR) is currently 27.31%.
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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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