Several other brokerages also recently commented on AAPL. Wells Fargo & Co set a $210.00 price objective on shares of Apple and gave the company a neutral rating in a research report on Monday, August 20th. New Street Research downgraded shares of Apple from a neutral rating to a sell rating in a research report on Monday, August 20th. Morgan Stanley restated a buy rating and set a $232.00 price objective on shares of Apple in a research report on Wednesday, August 22nd. Bank of America restated a buy rating and set a $250.00 price objective (up from $230.00) on shares of Apple in a research report on Tuesday, August 21st. Finally, Robert W. Baird restated a buy rating and set a $230.00 price objective on shares of Apple in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $219.97.
Shares of AAPL stock opened at $217.94 on Monday. The firm has a market cap of $1,062.46 billion, a PE ratio of 23.66, a PEG ratio of 1.68 and a beta of 1.16. Apple has a one year low of $149.16 and a one year high of $219.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31.
Apple declared that its Board of Directors has approved a share repurchase program on Tuesday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 13th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, August 10th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.34%. Apple’s payout ratio is currently 31.70%.
In other Apple news, insider Johny Srouji sold 14,140 shares of Apple stock in a transaction on Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the completion of the transaction, the insider now directly owns 68,302 shares of the company’s stock, valued at approximately $14,683,563.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 15,653 shares of Apple stock in a transaction on Friday, June 8th. The stock was sold at an average price of $190.94, for a total transaction of $2,988,783.82. Following the completion of the transaction, the chief operating officer now directly owns 147,819 shares of the company’s stock, valued at $28,224,559.86. The disclosure for this sale can be found here. Insiders sold a total of 140,230 shares of company stock valued at $28,436,361 over the last three months. Corporate insiders own 0.06% of the company’s stock.
Large investors have recently modified their holdings of the business. B. Riley Financial Inc. boosted its stake in shares of Apple by 27.6% during the 1st quarter. B. Riley Financial Inc. now owns 17,412 shares of the iPhone maker’s stock worth $2,921,000 after purchasing an additional 3,770 shares during the period. Mizuho Securities USA LLC purchased a new position in shares of Apple during the 1st quarter worth about $1,477,000. Roof Advisory Group Inc. boosted its stake in shares of Apple by 44.0% during the 1st quarter. Roof Advisory Group Inc. now owns 42,322 shares of the iPhone maker’s stock worth $7,101,000 after purchasing an additional 12,930 shares during the period. Viridian Ria LLC purchased a new position in shares of Apple during the 1st quarter worth about $525,000. Finally, Turim 21 Investimentos Ltda. boosted its stake in shares of Apple by 5.1% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 59,421 shares of the iPhone maker’s stock worth $9,970,000 after purchasing an additional 2,906 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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