Apple Inc. (NASDAQ:AAPL – Get Free Report) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.25 per share by the iPhone maker on Thursday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.58%. This is a boost from Apple’s previous quarterly dividend of $0.24.
Apple has raised its dividend by an average of 5.6% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Apple has a dividend payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Apple to earn $7.10 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 13.5%.
Apple Stock Performance
Apple stock traded up $3.73 during midday trading on Thursday, hitting $173.03. The stock had a trading volume of 92,324,744 shares, compared to its average volume of 60,772,266. The firm’s fifty day moving average is $172.38 and its two-hundred day moving average is $181.63. The company has a market capitalization of $2.67 trillion, a PE ratio of 26.78, a P/E/G ratio of 2.06 and a beta of 1.26. Apple has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.
Analyst Ratings Changes
Several research firms have recently weighed in on AAPL. Monness Crespi & Hardt lifted their target price on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Tuesday, April 16th. Redburn Partners downgraded Apple to a “neutral” rating and set a $200.00 price objective for the company. in a report on Wednesday, January 10th. Redburn Atlantic lowered Apple from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Wednesday, January 10th. Finally, Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $208.00 to $225.00 in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.62.
View Our Latest Stock Report on Apple
Insider Buying and Selling
In other news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 over the last three months. 0.06% of the stock is owned by corporate insiders.
Apple Company Profile
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.
Further Reading
- Five stocks we like better than Apple
- Investing in Construction Stocks
- Meta Stock: 3 Reasons This Stumble Is a Golden Buying Opportunity
- 3 Ways To Invest In Coffee, Other Than Drinking It
- 3 Staples Stocks to Cushion Lower Consumer Sentiment
- Earnings Per Share Calculator: How to Calculate EPS
- Zillow’s Earnings Dip: An Opportunity for Visionaries
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.