Wedbush reissued their buy rating on shares of Apple (NASDAQ:AAPL) in a research report sent to investors on Thursday morning. The firm currently has a $240.00 price target on the iPhone maker’s stock, up from their previous price target of $220.00. Wedbush also issued estimates for Apple’s Q4 2019 earnings at $2.86 EPS, FY2019 earnings at $11.72 EPS, Q1 2020 earnings at $4.37 EPS, Q2 2020 earnings at $2.79 EPS, Q3 2020 earnings at $2.49 EPS, Q4 2020 earnings at $3.12 EPS and FY2020 earnings at $12.80 EPS.
AAPL has been the subject of several other reports. ValuEngine upgraded Apple from a hold rating to a buy rating in a report on Tuesday, July 2nd. Loop Capital increased their price objective on Apple to $200.00 and gave the stock a hold rating in a report on Wednesday, July 31st. Bank of America increased their price objective on Apple from $230.00 to $240.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Citigroup increased their price objective on Apple from $205.00 to $250.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Finally, Evercore ISI began coverage on Apple in a report on Thursday, June 6th. They set an outperform rating and a $205.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $217.49.
Shares of NASDAQ:AAPL opened at $204.02 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. Apple has a 1 year low of $142.00 and a 1 year high of $233.47. The stock’s fifty day moving average price is $202.58. The stock has a market capitalization of $922.00 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.72 and a beta of 1.25.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 12th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, August 9th. Apple’s dividend payout ratio is currently 25.86%.
Apple announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Large investors have recently modified their holdings of the company. Kiley Juergens Wealth Management LLC grew its position in shares of Apple by 1.1% in the fourth quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock valued at $7,024,000 after purchasing an additional 494 shares during the last quarter. Rockland Trust Co. grew its position in shares of Apple by 4.8% in the second quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock valued at $4,081,000 after purchasing an additional 948 shares during the last quarter. CKW Financial Group grew its position in shares of Apple by 15.0% in the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after purchasing an additional 105 shares during the last quarter. Pecaut & CO. grew its position in shares of Apple by 3.0% in the first quarter. Pecaut & CO. now owns 59,894 shares of the iPhone maker’s stock valued at $11,377,000 after purchasing an additional 1,725 shares during the last quarter. Finally, Founders Capital Management LLC grew its position in shares of Apple by 164.2% in the fourth quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock valued at $2,385,000 after purchasing an additional 9,396 shares during the last quarter. 58.65% of the stock is currently owned by institutional investors.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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