Apple (NASDAQ:AAPL) Issues Quarterly Earnings Results

Apple (NASDAQ:AAPL) issued its earnings results on Thursday. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.15, Briefing.com reports. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year.

Apple Trading Down 1.5 %

Apple stock traded down $3.29 during trading hours on Friday, reaching $222.62. The company had a trading volume of 50,552,879 shares, compared to its average volume of 59,333,711. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a 50-day moving average price of $227.26 and a 200 day moving average price of $211.69. The firm has a market cap of $3.38 trillion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.45 and a beta of 1.24.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 15.22%.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AAPL shares. Tigress Financial lifted their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and lifted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Barclays dropped their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, Rosenblatt Securities increased their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $236.23.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.