Apple Inc. (AAPL) To Go Ex-Dividend on February 9th

Apple Inc. (NASDAQ:AAPLGet Free Report) declared a quarterly dividend on Thursday, February 1st, RTT News reports. Shareholders of record on Monday, February 12th will be paid a dividend of 0.24 per share by the iPhone maker on Thursday, February 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, February 9th.

Apple has increased its dividend by an average of 5.6% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Apple has a payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Apple to earn $7.18 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 13.4%.

Apple Stock Performance

NASDAQ AAPL opened at $189.30 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.23 and a beta of 1.31. The firm’s 50 day simple moving average is $190.59 and its 200 day simple moving average is $184.14. Apple has a 1 year low of $143.90 and a 1 year high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same quarter last year, the business posted $1.88 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts expect that Apple will post 6.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AAPL. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Apple in a research note on Friday, February 2nd. Robert W. Baird lifted their price objective on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Morgan Stanley lifted their price objective on shares of Apple from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, December 8th. Rosenblatt Securities reissued a “neutral” rating and issued a $189.00 price target on shares of Apple in a research report on Wednesday, January 31st. Finally, Tigress Financial upped their target price on shares of Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given 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 a consensus price target of $205.72.

View Our Latest Research Report on Apple

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $188.79, for a total value of $23,305,747.92. Following the completion of the transaction, the senior vice president now directly owns 293,266 shares in the company, valued at approximately $55,365,688.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 123,448 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total value of $23,305,747.92. Following the completion of the transaction, the senior vice president now directly owns 293,266 shares in the company, valued at approximately $55,365,688.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 5,513 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the transaction, the insider now owns 29,174 shares of the company’s stock, valued at $5,601,408. The disclosure for this sale can be found here. Insiders sold 133,767 shares of company stock worth $25,248,740 in the last three months. 0.06% of the stock is owned by insiders.

Institutional Trading of Apple

Several institutional investors have recently bought and sold shares of AAPL. IFM Investors Pty Ltd raised its position in shares of Apple by 20.0% during the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after buying an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. raised its position in shares of Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after buying an additional 1,040 shares during the last quarter. Markel Corp raised its position in shares of Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after buying an additional 8,450 shares during the last quarter. Camden Capital LLC grew its holdings in shares of Apple by 9.2% in the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC grew its holdings in shares of Apple by 0.3% in the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after purchasing an additional 400 shares in the last quarter. 58.51% of the stock is owned by hedge funds and other institutional investors.

About Apple

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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.

See Also

Dividend History for Apple (NASDAQ:AAPL)

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