Equities Analysts Offer Predictions for Apple Inc.’s FY2022 Earnings (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPLGet Rating) – Zacks Research lowered their FY2022 earnings per share estimates for Apple in a research report issued on Monday, September 19th. Zacks Research analyst A. Ganguly now expects that the iPhone maker will post earnings per share of $6.09 for the year, down from their prior estimate of $6.11. The consensus estimate for Apple’s current full-year earnings is $6.11 per share. Zacks Research also issued estimates for Apple’s Q1 2023 earnings at $2.15 EPS, Q3 2023 earnings at $1.34 EPS, Q4 2023 earnings at $1.46 EPS and Q2 2024 earnings at $1.66 EPS.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating 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 firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same period last year, the firm posted $1.30 EPS. Apple’s quarterly revenue was up 1.9% compared to the same quarter last year.

Several other brokerages also recently weighed in on AAPL. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research note on Monday, September 12th. Wells Fargo & Company cut their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Monness Crespi & Hardt assumed coverage on shares of Apple in a research report on Thursday, September 8th. They issued a “buy” rating and a $174.00 target price for the company. Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, Itau BBA Securities started coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $181.68.

Apple Stock Performance

AAPL opened at $152.74 on Thursday. Apple has a twelve month low of $129.04 and a twelve month high of $182.94. The stock has a market cap of $2.45 trillion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The business’s 50 day moving average is $160.31 and its 200-day moving average is $155.83. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. Apple’s payout ratio is 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 dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred 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 in the company, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Institutional investors and hedge funds have recently made changes to their positions in the stock. Joseph Group Capital Management acquired a new stake in Apple in the 4th quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. increased its position in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC acquired a new position in Apple during the 4th quarter valued at $41,000. Spence Asset Management bought a new stake in Apple in the 2nd quarter valued at $49,000. Finally, Ramsey Quantitative Systems acquired a new stake in Apple in the 2nd quarter worth $55,000. Institutional investors and hedge funds own 57.72% of the company’s stock.

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.

Featured Articles

Earnings History and Estimates for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.