Apple’s (AAPL) “Equal Weight” Rating Reaffirmed at KeyCorp

KeyCorp reissued their equal weight rating on shares of Apple (NASDAQ:AAPL) in a report published on Sunday morning. KeyCorp also issued estimates for Apple’s Q2 2018 earnings at $2.77 EPS, Q3 2018 earnings at $2.36 EPS, Q4 2018 earnings at $2.67 EPS, FY2018 earnings at $11.74 EPS and Q3 2019 earnings at $2.60 EPS.

Other research analysts have also issued reports about the stock. Rosenblatt Securities reissued a hold rating and set a $150.00 target price on shares of Apple in a research note on Sunday, October 15th. Citigroup reissued a buy rating and set a $200.00 target price (up from $170.00) on shares of Apple in a research note on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 target price on shares of Apple and gave the company a buy rating in a research note on Monday, December 4th. Zacks Investment Research raised shares of Apple from a hold rating to a buy rating and set a $197.00 target price for the company in a research note on Thursday, January 18th. Finally, Pacific Crest raised shares of Apple from a sector weight rating to an overweight rating and set a $187.00 target price for the company in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $201.72.

Apple (NASDAQ AAPL) opened at $159.54 on Friday. Apple has a fifty-two week low of $130.45 and a fifty-two week high of $180.10. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market cap of $809,510.00, a PE ratio of 16.41, a PEG ratio of 1.19 and a beta of 1.33.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a net margin of 21.13% and a return on equity of 37.37%. The business had revenue of $88.29 billion during the quarter, compared to analyst estimates of $87.62 billion. During the same period in the previous year, the business posted $3.36 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. analysts anticipate that Apple will post 11.38 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.58%. The ex-dividend date is Friday, February 9th. Apple’s dividend payout ratio is 25.93%.

In related news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the completion of the sale, the insider now directly owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eduardo H. Cue sold 65,361 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $171.60, for a total transaction of $11,215,947.60. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock valued at $22,115,155 over the last three months. Insiders own 0.06% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Roundview Capital LLC raised its stake in Apple by 0.5% during the 4th quarter. Roundview Capital LLC now owns 62,436 shares of the iPhone maker’s stock valued at $10,566,000 after purchasing an additional 326 shares during the last quarter. Krueger & Catalano Capital Partners LLC acquired a new position in Apple during the 4th quarter valued at $3,212,000. Boston Common Asset Management LLC raised its stake in Apple by 2.9% during the 4th quarter. Boston Common Asset Management LLC now owns 176,915 shares of the iPhone maker’s stock valued at $29,939,000 after purchasing an additional 4,987 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Apple by 1.7% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 94,051 shares of the iPhone maker’s stock valued at $15,916,000 after purchasing an additional 1,612 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Apple during the 4th quarter valued at $308,000. 60.23% of the stock is owned by institutional investors and hedge funds.

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About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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