Apple (NASDAQ:AAPL – Free Report) had its target price upped by Rosenblatt Securities from $276.00 to $300.00 in a research note released on Friday morning,Benzinga reports. Rosenblatt Securities currently has a neutral rating on the iPhone maker’s stock.
AAPL has been the subject of a number of other research reports. TD Cowen increased their price target on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research note on Monday, June 22nd. Maxim Group reaffirmed a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Raymond James Financial reiterated a “market perform” rating on shares of Apple in a research note on Friday. Finally, Citigroup reiterated a “buy” rating and set a $365.00 price target (up from $315.00) on shares of Apple in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $331.60.
Read Our Latest Stock Analysis on AAPL
Apple Trading Down 7.4%
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 142.29%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the business earned $1.57 earnings per share. Equities research analysts predict that Apple will post 8.76 earnings per share for the current fiscal year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s payout ratio is presently 12.39%.
Insider Buying and Selling
In other Apple news, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.
Institutional Investors Weigh In On Apple
Institutional investors have recently made changes to their positions in the company. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Timmons Wealth Management LLC acquired a new position in Apple in the fourth quarter valued at about $69,000. LSV Asset Management acquired a new position in Apple in the fourth quarter valued at about $65,000. Finally, Inspire Investing LLC acquired a new stake in Apple during the fourth quarter worth about $76,000. Institutional investors own 67.73% of the company’s stock.
More Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
- Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
- Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results
About Apple
Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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