Apple (NASDAQ:AAPL) issued its earnings results on Thursday. The iPhone maker reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.55, MarketWatch Earnings reports. The business had revenue of $59.69 billion during the quarter, compared to analyst estimates of $51.94 billion. Apple had a return on equity of 67.82% and a net margin of 21.33%.
AAPL stock opened at $425.04 on Friday. The firm has a 50 day moving average of $367.96 and a 200-day moving average of $313.71. The firm has a market capitalization of $1,842.27 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 3.13 and a beta of 1.18. Apple has a 12 month low of $192.58 and a 12 month high of $425.66. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14.
Shares of Apple are going to split before the market opens on Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly created shares will be issued to shareholders after the closing bell on Friday, August 28th.
In other Apple news, insider Chris Kondo sold 4,491 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the sale, the insider now directly owns 7,370 shares in the company, valued at approximately $2,252,419.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.
AAPL has been the subject of several recent research reports. JPMorgan Chase & Co. set a $460.00 price objective on Apple and gave the company a “buy” rating in a report on Friday. Loop Capital upped their price objective on shares of Apple from $330.00 to $376.00 and gave the stock a “hold” rating in a report on Friday. Cowen raised their price objective on shares of Apple from $400.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday. Cascend Securities boosted their target price on shares of Apple from $325.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Apple in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $370.23.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
Recommended Story: What is the Current Ratio?
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.