Apple Inc. (NASDAQ:AAPL) declared a quarterly dividend on Thursday, November 2nd, RTT News reports. Investors of record on Monday, November 13th will be paid a dividend of 0.63 per share by the iPhone maker on Thursday, November 16th. This represents a $2.52 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, November 10th.
Apple has increased its dividend by an average of 9.8% per year over the last three years and has raised its dividend every year for the last 4 years. Apple has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apple to earn $11.55 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 21.8%.
Shares of Apple (AAPL) opened at $173.97 on Tuesday. The firm has a market capitalization of $893,220.00, a P/E ratio of 18.99, a PEG ratio of 1.40 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. Apple has a 12 month low of $104.08 and a 12 month high of $176.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.20. The firm had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 EPS. sell-side analysts predict that Apple will post 11.15 earnings per share for the current year.
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A number of research firms recently commented on AAPL. UBS AG set a $190.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Tuesday. Argus upped their price objective on shares of Apple from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, November 6th. KeyCorp restated a “buy” rating and issued a $192.00 price objective on shares of Apple in a research report on Friday, November 3rd. Deutsche Bank AG reiterated a “hold” rating and set a $152.00 target price on shares of Apple in a report on Friday, November 3rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $195.00 target price (up previously from $180.00) on shares of Apple in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $199.14.
In other Apple news, SVP Johny Srouji sold 10,469 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the completion of the sale, the senior vice president now owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip W. Schiller sold 56,808 shares of the stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. Insiders sold a total of 411,389 shares of company stock worth $65,364,467 in the last three months. Insiders own 0.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. Beach Investment Management LLC. lifted its position in Apple by 1,517.7% during the 2nd quarter. Beach Investment Management LLC. now owns 178,109 shares of the iPhone maker’s stock valued at $25,651,000 after acquiring an additional 167,099 shares during the period. Catalyst Capital Advisors LLC increased its stake in Apple by 39.8% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 69,900 shares of the iPhone maker’s stock valued at $10,067,000 after purchasing an additional 19,900 shares in the last quarter. IFC Holdings Incorporated FL increased its stake in Apple by 1.1% during the 2nd quarter. IFC Holdings Incorporated FL now owns 85,072 shares of the iPhone maker’s stock valued at $12,224,000 after purchasing an additional 885 shares in the last quarter. Wedbush Securities Inc. increased its stake in Apple by 3.6% during the 2nd quarter. Wedbush Securities Inc. now owns 156,649 shares of the iPhone maker’s stock valued at $22,561,000 after purchasing an additional 5,435 shares in the last quarter. Finally, Berkeley Capital Partners LLC increased its stake in Apple by 0.6% during the 2nd quarter. Berkeley Capital Partners LLC now owns 4,369 shares of the iPhone maker’s stock valued at $629,000 after purchasing an additional 26 shares in the last quarter. 60.38% of the stock is owned by institutional investors.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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