A number of other equities analysts have also issued reports on the company. Evercore ISI assumed coverage on Apple in a report on Thursday, June 6th. They issued an outperform rating and a $205.00 price objective for the company. Daiwa Capital Markets set a $212.00 price objective on Apple and gave the stock a buy rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. restated a buy rating and issued a $235.00 target price on shares of Apple in a research report on Tuesday, June 4th. Credit Suisse Group set a $209.00 target price on Apple and gave the stock a neutral rating in a research report on Tuesday, June 4th. Finally, Goldman Sachs Group restated a neutral rating and issued a $171.00 target price on shares of Apple in a research report on Tuesday, June 4th. Three equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $207.57.
Shares of AAPL stock opened at $194.81 on Tuesday. Apple has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a market capitalization of $874.89 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.26.
Apple announced that its Board of Directors has approved a share repurchase plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.73. Apple’s dividend payout ratio is 25.86%.
In other news, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the completion of the sale, the director now owns 1,168,283 shares in the company, valued at $246,344,153.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the sale, the chief operating officer now owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. Insiders have sold a total of 142,549 shares of company stock valued at $29,300,960 in the last quarter. Insiders own 0.05% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Apple by 0.3% in the fourth quarter. BlackRock Inc. now owns 296,598,349 shares of the iPhone maker’s stock worth $46,785,423,000 after acquiring an additional 805,069 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Apple by 11,234.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 160,579,635 shares of the iPhone maker’s stock worth $1,018,000 after acquiring an additional 159,162,851 shares during the last quarter. FMR LLC increased its stake in shares of Apple by 1.3% in the fourth quarter. FMR LLC now owns 112,369,787 shares of the iPhone maker’s stock worth $17,725,210,000 after acquiring an additional 1,473,983 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Apple by 4.5% in the first quarter. Geode Capital Management LLC now owns 61,063,812 shares of the iPhone maker’s stock worth $11,580,103,000 after acquiring an additional 2,649,400 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Apple by 1.3% in the fourth quarter. Northern Trust Corp now owns 59,311,465 shares of the iPhone maker’s stock worth $9,355,791,000 after acquiring an additional 733,392 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.
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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