Apple (NASDAQ:AAPL) Given Neutral Rating at UBS Group

UBS Group reiterated their neutral rating on shares of Apple (NASDAQ:AAPL) in a report published on Monday, Benzinga reports. UBS Group currently has a $190.00 price objective on the iPhone maker’s stock.

AAPL has been the topic of several other reports. Canaccord Genuity Group boosted their price target on shares of Apple from $200.00 to $215.00 and gave the stock a buy rating in a report on Saturday, May 4th. Citigroup reduced their target price on Apple from $220.00 to $210.00 and set a buy rating for the company in a report on Monday, April 29th. Wedbush lifted their price target on Apple from $250.00 to $275.00 and gave the stock an outperform rating in a report on Friday, May 24th. Canaccord Genuity Group upped their price objective on Apple from $200.00 to $215.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Apple from $225.00 to $245.00 and gave the stock an overweight rating in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $215.71.

Apple Stock Performance

Shares of Apple stock opened at $216.75 on Monday. Apple has a 52 week low of $164.07 and a 52 week high of $220.20. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The business has a 50 day moving average price of $192.13 and a 200-day moving average price of $185.31. The company has a market cap of $3.32 trillion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. Equities analysts anticipate that Apple will post 6.59 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 192,355 shares of company stock worth $34,771,329 in the last ninety days. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AAPL. Wyrmwood Management LLC raised its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Christopher J. Hasenberg Inc purchased a new position in shares of Apple during the 1st quarter worth approximately $35,000. Gilfoyle & Co LLC raised its position in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the 4th quarter valued at approximately $39,000. Finally, University of Texas Texas AM Investment Managment Co. lifted its stake in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

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.