Apple Inc. (NASDAQ:AAPL) to Issue $0.63 Quarterly Dividend

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.

COPYRIGHT VIOLATION NOTICE: This news story was posted by TrueBlueTribune and is owned by of TrueBlueTribune. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://www.truebluetribune.com/2017/11/14/apple-inc-aapl-to-go-ex-dividend-on-november-10th.html.

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.

Dividend History for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply