Apple (NASDAQ:AAPL) Posts Earnings Results

Apple (NASDAQ:AAPLGet Rating) issued its earnings results on Thursday. The iPhone maker reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.09, MarketWatch Earnings reports. The firm had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a net margin of 26.58% and a return on equity of 149.81%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share.

NASDAQ:AAPL opened at $157.65 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $2.57 trillion, a price-to-earnings ratio of 25.59, a PEG ratio of 2.04 and a beta of 1.19. The firm has a fifty day simple moving average of $165.70 and a two-hundred day simple moving average of $164.93. Apple has a 12 month low of $122.25 and a 12 month high of $182.94.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Investors of record on Monday, May 9th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.58%. This is an increase from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is currently 14.29%.

Apple declared that its Board of Directors has authorized a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Thursday, February 3rd. The shares were sold at an average price of $174.78, for a total transaction of $4,369,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Deirdre O’brien sold 29,198 shares of Apple stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at $24,228,273.30. The disclosure for this sale can be found here. Insiders sold 170,085 shares of company stock valued at $30,047,365 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. IFS Advisors LLC purchased a new position in Apple during the fourth quarter worth about $92,000. William Blair Investment Management LLC purchased a new position in Apple during the fourth quarter worth about $273,000. Dean Jacobson Financial Services LLC bought a new stake in Apple in the fourth quarter worth about $314,000. ETF Store Inc. bought a new stake in Apple in the fourth quarter worth about $502,000. Finally, PACK Private Wealth LLC bought a new stake in Apple in the fourth quarter worth about $506,000. Institutional investors and hedge funds own 57.98% of the company’s stock.

A number of analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Apple from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, January 28th. Tigress Financial raised their target price on Apple from $198.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 15th. Sanford C. Bernstein reaffirmed a “hold” rating and issued a $170.00 price target on shares of Apple in a research report on Wednesday, January 19th. The Goldman Sachs Group set a $161.00 target price on Apple in a research report on Wednesday. Finally, Barclays set a $170.00 target price on Apple in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $189.10.

Apple Company Profile (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Earnings History for Apple (NASDAQ:AAPL)

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