TD Cowen reiterated their buy rating on shares of Apple (NASDAQ:AAPL – Free Report) in a research report report published on Tuesday, Marketbeat Ratings reports.
AAPL has been the subject of several other research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price target on shares of Apple in a research report on Monday. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Citigroup increased their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $238.05.
View Our Latest Research Report on AAPL
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. On average, analysts predict that Apple will post 7.43 EPS for the current year.
Apple Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio is presently 16.45%.
Insider Activity at Apple
In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Optas LLC raised its holdings in shares of Apple by 10.8% in the 2nd quarter. Optas LLC now owns 70,806 shares of the iPhone maker’s stock worth $14,913,000 after buying an additional 6,896 shares in the last quarter. Independence Bank of Kentucky raised its stake in Apple by 7.3% during the second quarter. Independence Bank of Kentucky now owns 79,411 shares of the iPhone maker’s stock worth $16,726,000 after acquiring an additional 5,386 shares in the last quarter. Keb Asset Management LLC lifted its holdings in shares of Apple by 1.2% during the second quarter. Keb Asset Management LLC now owns 13,755 shares of the iPhone maker’s stock valued at $2,897,000 after acquiring an additional 159 shares during the period. Calamos Wealth Management LLC boosted its stake in shares of Apple by 3.5% in the 2nd quarter. Calamos Wealth Management LLC now owns 666,570 shares of the iPhone maker’s stock valued at $140,393,000 after purchasing an additional 22,386 shares in the last quarter. Finally, POM Investment Strategies LLC grew its holdings in shares of Apple by 6.3% in the 2nd quarter. POM Investment Strategies LLC now owns 9,829 shares of the iPhone maker’s stock worth $2,070,000 after purchasing an additional 583 shares during the last quarter. 67.73% 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.
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