Q4 2022 Earnings Forecast for Apple Inc. Issued By KeyCorp (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPLGet Rating) – Research analysts at KeyCorp decreased their Q4 2022 earnings per share estimates for Apple in a note issued to investors on Monday, August 1st. KeyCorp analyst B. Nispel now expects that the iPhone maker will earn $1.25 per share for the quarter, down from their previous estimate of $1.30. KeyCorp has a “Overweight” rating and a $177.00 price objective on the stock. The consensus estimate for Apple’s current full-year earnings is $6.11 per share. KeyCorp also issued estimates for Apple’s Q1 2023 earnings at $2.03 EPS, Q2 2023 earnings at $1.48 EPS, Q4 2023 earnings at $1.33 EPS, FY2023 earnings at $6.30 EPS and FY2024 earnings at $6.63 EPS.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis.

Other research analysts have also recently issued research reports about the company. Loop Capital dropped their price target on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on Apple in a research report on Monday. Wells Fargo & Company dropped their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Sanford C. Bernstein set a $170.00 price objective on Apple in a research report on Monday, May 2nd. Finally, Fundamental Research lifted their price objective on Apple to $177.00 and gave the stock an “average” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.21.

Apple Trading Up 3.8 %

Shares of AAPL stock opened at $166.13 on Wednesday. Apple has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock has a market cap of $2.69 trillion, a P/E ratio of 27.41, a P/E/G ratio of 2.09 and a beta of 1.23. The business has a fifty day simple moving average of $145.58 and a 200-day simple moving average of $157.20. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.

Hedge Funds Weigh In On Apple

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Elk River Wealth Management LLC lifted its position in Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after acquiring an additional 54,989 shares in the last quarter. Piscataqua Savings Bank increased its stake in shares of Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after buying an additional 684 shares during the last quarter. Fountainhead AM LLC increased its stake in shares of Apple by 11.6% in the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after buying an additional 4,738 shares during the last quarter. Primoris Wealth Advisors LLC acquired a new stake in Apple in the fourth quarter valued at $4,282,000. Finally, Red Door Wealth Management LLC grew its holdings in Apple by 3.3% during the 1st quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock worth $16,934,000 after acquiring an additional 3,087 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

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 and Estimates for Apple (NASDAQ:AAPL)

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