Apple (NASDAQ:AAPL) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Apple (NASDAQ:AAPLGet Free Report) issued its quarterly earnings data on Thursday. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09, Briefing.com reports. The firm had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 164.02%. Apple’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 earnings per share.

Apple Trading Down 0.5 %

Shares of NASDAQ:AAPL opened at $185.85 on Friday. The firm has a market cap of $2.87 trillion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.24 and a beta of 1.31. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53. Apple has a 12 month low of $143.90 and a 12 month high of $199.62. The company’s fifty day simple moving average is $190.65 and its 200 day simple moving average is $184.34.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 12th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.52%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Tigress Financial upped their price target on Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 16th. Monness Crespi & Hardt lifted their price target on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Wedbush restated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on shares of Apple from $225.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, KeyCorp reissued a “sector weight” rating on shares of Apple in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.11.

Read Our Latest Stock Analysis on Apple

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,513 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total value of $1,058,496.00. Following the sale, the insider now directly owns 29,174 shares in the company, valued at $5,601,408. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total value of $1,058,496.00. Following the sale, the insider now directly owns 29,174 shares in the company, valued at $5,601,408. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now owns 293,266 shares of the company’s stock, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,767 shares of company stock worth $25,248,740. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Several institutional investors and hedge funds have recently bought and sold shares of AAPL. Atlantic Private Wealth LLC bought a new stake in Apple during the first quarter worth $30,000. Cheyne Capital Management UK LLP increased its holdings in shares of Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares during the last quarter. HBC Financial Services PLLC lifted its holdings in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Clear Perspectives Financial Planning LLC raised its position in shares of Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after purchasing an additional 211 shares during the period. Finally, Surience Private Wealth LLC bought a new stake in shares of Apple during the 2nd quarter worth about $203,000. Institutional investors own 58.51% of the company’s stock.

Apple Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Apple (NASDAQ:AAPL)

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