Apple Inc. (NASDAQ:AAPL) Given Consensus Rating of “Moderate Buy” by Brokerages

Apple Inc. (NASDAQ:AAPLGet Rating) has been given a consensus rating of “Moderate Buy” by the thirty-five analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $179.27.

A number of research analysts have recently weighed in on the company. Fundamental Research set a $177.07 price target on Apple and gave the company a “buy” rating in a research report on Thursday, August 4th. Piper Sandler dropped their price target on Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Credit Suisse Group set a $166.00 price target on Apple in a research report on Friday, July 29th. Morgan Stanley dropped their price target on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Finally, Barclays dropped their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th.

Insider Activity

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kavar Capital Partners Group LLC lifted its position in Apple by 1.6% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 161,470 shares of the iPhone maker’s stock worth $22,076,000 after acquiring an additional 2,606 shares in the last quarter. Keb Asset Management LLC increased its holdings in Apple by 5.8% during the 2nd quarter. Keb Asset Management LLC now owns 13,708 shares of the iPhone maker’s stock worth $1,874,000 after purchasing an additional 753 shares during the last quarter. Lanham O Dell & Company Inc. increased its holdings in Apple by 15.0% during the 2nd quarter. Lanham O Dell & Company Inc. now owns 4,993 shares of the iPhone maker’s stock worth $683,000 after purchasing an additional 650 shares during the last quarter. Lloyd Park LLC increased its holdings in Apple by 4.0% during the 2nd quarter. Lloyd Park LLC now owns 65,031 shares of the iPhone maker’s stock worth $8,891,000 after purchasing an additional 2,505 shares during the last quarter. Finally, Loudon Investment Management LLC increased its holdings in Apple by 2.5% during the 2nd quarter. Loudon Investment Management LLC now owns 19,956 shares of the iPhone maker’s stock worth $2,728,000 after purchasing an additional 482 shares during the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Apple stock opened at $172.10 on Friday. Apple has a one year low of $129.04 and a one year high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The business has a fifty day moving average of $148.26 and a two-hundred day moving average of $157.30. The company has a market cap of $2.77 trillion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts predict that Apple will post 6.1 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Apple declared that its board has authorized a stock repurchase plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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