Wedbush Reaffirms Outperform Rating for Apple (AAPL)

Wedbush restated their outperform rating on shares of Apple (NASDAQ:AAPL) in a research report released on Tuesday morning.

AAPL has been the topic of a number of other research reports. BidaskClub downgraded Apple from a hold rating to a sell rating in a report on Wednesday, November 28th. HSBC downgraded Apple from a buy rating to a hold rating and set a $181.37 target price on the stock. in a report on Sunday, December 9th. Needham & Company LLC dropped their target price on Apple from $200.00 to $180.00 and set a buy rating on the stock in a report on Thursday, January 3rd. Morgan Stanley reiterated an overweight rating and issued a $253.00 target price on shares of Apple in a report on Thursday, November 15th. Finally, Macquarie reiterated a buy rating and issued a $222.00 target price on shares of Apple in a report on Monday, December 10th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $193.19.

NASDAQ AAPL opened at $183.73 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a market cap of $889.20 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.85 and a beta of 1.13. Apple has a 1 year low of $142.00 and a 1 year high of $233.47.



Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.17 by $0.01. The company had revenue of $84.31 billion for the quarter, compared to the consensus estimate of $84.07 billion. Apple had a return on equity of 50.92% and a net margin of 22.72%. On average, sell-side analysts expect that Apple will post 11.38 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Monday, February 11th were paid a $0.73 dividend. The ex-dividend date was Friday, February 8th. This represents a $2.92 annualized dividend and a dividend yield of 1.59%. Apple’s payout ratio is 24.52%.

In other Apple news, Director Arthur D. Levinson sold 1,521 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $167.71, for a total transaction of $255,086.91. Following the completion of the sale, the director now owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.05% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Semmax Financial Advisors Inc. acquired a new position in shares of Apple in the fourth quarter valued at $50,000. Portfolio Solutions LLC acquired a new position in shares of Apple in the fourth quarter valued at $76,000. Contravisory Investment Management Inc. raised its stake in shares of Apple by 30.6% in the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after purchasing an additional 144 shares in the last quarter. Truehand Inc acquired a new position in shares of Apple in the fourth quarter valued at $108,000. Finally, INR Advisory Services LLC acquired a new position in shares of Apple in the fourth quarter valued at $124,000. 56.40% of the stock is owned by hedge funds and other institutional investors.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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