Stocks of Apple Inc (NASDAQ:AAPL) traded higher last session on Wall Street, up 0.07% to $173.00.
According to the data, Apple Inc (NASDAQ:AAPL) has 46 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $240.00 and a low of $125.00, we find $200.00. Given the previous closing price of $172.88, this indicates a potential upside of 15.69 percent. AAPL stock price is now -2.57% away from the 50-day moving average and 2.06% away from the 200-day moving average. The market capitalization of the company currently stands at $2704.72B.
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A total of 15 analysts have issued a hold rating and 23 have given it a buy rating. Brokers who have rated the stock have averaged $199.43 as their price target over the next twelve months.
With the price target reduced from $215 to $210, Morgan Stanley maintained Overweight rating for Apple Inc (NASDAQ: AAPL).
In other news, Maestri Luca, Senior Vice President, CFO sold 31,685 shares of the company’s stock on Oct 09. The stock was sold for $5,661,923 at an average price of $178.69. Upon completion of the transaction, the Senior Vice President, CFO now directly owns 107,661 shares in the company, valued at $18.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 06, COO WILLIAMS JEFFREY E sold 69,785 shares of the business’s stock. A total of $12,351,945 was realized by selling the stock at an average price of $177.00. This leaves the insider owning 489,817 shares of the company worth $84.74 million. Insiders disposed of 2,082,463 shares of company stock worth roughly $360.27 million over the past 1 year. A total of 0.09% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AAPL stock. A new stake in Apple Inc shares was purchased by CERITY PARTNERS LLC during the first quarter worth $959,898,000. JANNEY MONTGOMERY SCOTT LLC invested $846,536,000 in shares of AAPL during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Apple Inc valued at approximately $716,318,000. GRANITE BAY WEALTH MANAGEMENT, LLC acquired a new stake in AAPL for approximately $435,058,000. MML INVESTORS SERVICES, LLC purchased a new stake in AAPL valued at around $314,153,000 in the second quarter. In total, there are 5,762 active investors with 60.96% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $170.91 for Apple Inc (NASDAQ: AAPL). During the past 12 months, Apple Inc has had a low of $124.17 and a high of $198.23. As of last week, the company has a debt-to-equity ratio of 1.81, a current ratio of 0.98, and a quick ratio of 0.92. According to the stock market information, the enterprise value for the company is $2.75T, which is based on a 29.07 price-to-earnings ratio, a 3.93 price-to-earnings-growth ratio, and a beta of 1.31. The fifty day moving average price for AAPL is $177.46 and a two-hundred day moving average price translates $169.75 for the stock.
The latest earnings results from Apple Inc (NASDAQ: AAPL) was released for Jun, 2023. According to the Consumer Electronics Company, earnings per share came in at $1.26, beating analysts’ expectations of $1.19 by 0.07. This compares to $1.20 EPS in the same period last year. The net profit margin was 24.68% and return on equity was 160.09% for AAPL. The company reported revenue of $81.8 billion for the quarter, compared to $82.96 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.4 percent. For the current quarter, analysts expect AAPL to generate $84.18B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/17/2023. Investors who held shares on 08/14/2023 were paid a $0.24 dividend. On an annualized basis, this represents a $0.96 dividend and a 0.55% percent yield. There was an ex-dividend date of 08/11/2023 for this dividend. In terms of dividend payout ratio, AAPL is presently at 14.72%.
