Apple Inc. (NASDAQ:AAPL) to Post Q4 2022 Earnings of $1.27 Per Share, Zacks Research Forecasts

Apple Inc. (NASDAQ:AAPLGet Rating) – Research analysts at Zacks Research lowered their Q4 2022 earnings estimates for Apple in a report released on Monday, September 19th. Zacks Research analyst A. Ganguly now anticipates that the iPhone maker will post earnings of $1.27 per share for the quarter, down from their previous forecast of $1.29. The consensus estimate for Apple’s current full-year earnings is $6.11 per share. Zacks Research also issued estimates for Apple’s Q2 2023 earnings at $1.57 EPS, FY2023 earnings at $6.53 EPS, Q1 2024 earnings at $2.07 EPS, Q3 2024 earnings at $1.53 EPS and FY2024 earnings at $6.87 EPS.

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

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $139.00 price objective on shares of Apple in a research note on Thursday, September 8th. KeyCorp upped their target price on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Fundamental Research set a $177.07 target price on shares of Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. Monness Crespi & Hardt started coverage on shares of Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 target price on the stock. Finally, JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research note on Monday, September 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.68.

Apple Trading Up 1.6 %

NASDAQ:AAPL opened at $156.90 on Wednesday. Apple has a one year low of $129.04 and a one year high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The company’s 50-day simple moving average is $159.84 and its 200 day simple moving average is $155.88. The firm has a market capitalization of $2.52 trillion, a P/E ratio of 25.89, a PEG ratio of 1.95 and a beta of 1.23.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. Apple’s dividend payout ratio is currently 15.18%.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Apple

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MKT Advisors LLC increased its stake in shares of Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares in the last quarter. Donald L. Hagan LLC boosted its position in shares of Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after acquiring an additional 61 shares during the last quarter. Goodwin Daniel L boosted its position in shares of Apple by 0.5% during the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after acquiring an additional 62 shares during the last quarter. Opus Capital Group LLC boosted its position in shares of Apple by 0.3% during the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after acquiring an additional 63 shares during the last quarter. Finally, Norwood Financial Corp boosted its position in shares of Apple by 0.9% during the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after acquiring an additional 65 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

Apple Company Profile

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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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