“Normalized iPhone revenue sell-out up ~17% y/y; our ASP analysis suggests iPhone X represented 20% of the December quarter iPhone mix. Guidance embeds iPhone unit & revenue sell-out accelerates, even on a normalized basis. Bottom line power of iPhone X still not evident, but we continue to also model erosion of the iPhone X price premium in FY19, leading us to continue to utilize normalized valuation. Continue to utilize a normalized earnings framework, though increasing 12- month price target to $210, from $204, due to a lower tax rate than we had assumed new tax law would enable.”,” the firm’s analyst commented.
A number of other equities research analysts have also recently weighed in on AAPL. Vetr cut shares of Apple from a strong-buy rating to a buy rating and set a $173.47 price target for the company. in a research report on Friday, October 6th. UBS Group reaffirmed a buy rating and issued a $180.00 target price on shares of Apple in a report on Monday, October 9th. Drexel Hamilton reaffirmed a buy rating and issued a $208.00 target price on shares of Apple in a report on Monday, October 9th. Royal Bank of Canada reaffirmed an outperform rating and issued a $180.00 target price on shares of Apple in a report on Tuesday, October 10th. Finally, Morgan Stanley reaffirmed a buy rating and issued a $199.00 target price on shares of Apple in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $201.91.
Shares of Apple (NASDAQ AAPL) opened at $156.49 on Friday. Apple has a 1 year low of $128.90 and a 1 year high of $180.10. The firm has a market cap of $803,470.00, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.28 and a beta of 1.33. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.74.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The firm had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. During the same period in the previous year, the company earned $3.36 earnings per share. Apple’s quarterly revenue was up 12.7% compared to the same quarter last year. equities analysts predict that Apple will post 11.3 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, February 9th. Apple’s dividend payout ratio is currently 25.93%.
In other Apple news, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the transaction, the insider now owns 13,739 shares of the company’s stock, valued at $2,401,302.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Johny Srouji sold 5,760 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares in the company, valued at approximately $14,224,064. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,412 shares of company stock worth $22,115,155. 0.06% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in AAPL. Janus Henderson Group PLC grew its holdings in Apple by 301.3% during 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 in the last quarter. Harbour Capital Advisors LLC grew its holdings in Apple by 14,030.2% during 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 in the last quarter. Truepoint Inc. grew its holdings in Apple by 15,559.4% during the 3rd quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock valued at $4,437,000 after purchasing an additional 4,408,441 shares in the last quarter. Capital Research Global Investors grew its holdings in Apple by 15.0% during 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 in the last quarter. Finally, Stifel Financial Corp grew its holdings in Apple by 9,166.4% during the 3rd quarter. Stifel Financial Corp now owns 3,883,754 shares of the iPhone maker’s stock valued at $598,497,000 after purchasing an additional 3,841,842 shares in the last quarter. 60.23% of the stock is owned by institutional investors.
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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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