Piper Sandler Research Analysts Lower Earnings Estimates for Apple Inc. (NASDAQ:AAPL)

Piper Sandler Research Analysts Lower Earnings Estimates for Apple Inc. (NASDAQ:AAPL)

AAPL has been the subject of several other research reports. DZ Bank restated a “buy” rating on shares of Apple in a research report on Tuesday, August 10th. Credit Suisse Group set a $146.17 target price on Apple in a research report on Tuesday, July 27th. New Street Research lowered Apple from a “neutral” rating to a “sell” rating and set a $90.00 price target for the company. in a research report on Friday, May 28th. Zacks Investment Research lowered Apple from a “buy” rating to a “hold” rating and set a $171.00 price target on the stock. in a report on Monday, July 26th. Finally, Sanford C. Bernstein reaffirmed a “hold” rating and issued a $132.00 price objective on shares of Apple in a report on Tuesday, August 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $156.74.

Apple Inc. (NASDAQ:AAPL) – Analysts at Piper Sandler reduced their Q1 2023 earnings estimates for shares of Apple in a research note issued to investors on Wednesday, August 25th. Piper Sandler analyst H. Kumar now forecasts that the iPhone maker will post earnings per share of $1.81 for the quarter, down from their previous estimate of $2.09. Piper Sandler has a “Overweight” rating and a $165.00 price target on the stock. Piper Sandler also issued estimates for Apple’s Q2 2023 earnings at $1.37 EPS.

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Shares of AAPL opened at $148.60 on Monday. Apple has a 12 month low of $103.10 and a 12 month high of $151.68. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.01 and a current ratio of 1.06. The stock’s fifty day moving average is $144.35. The company has a market cap of $2.46 trillion, a P/E ratio of 29.08, a P/E/G ratio of 2.10 and a beta of 1.20. Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.29. The company had revenue of $81.40 billion for the quarter, compared to the consensus estimate of $73.48 billion. Apple had a net margin of 25.00% and a return on equity of 131.01%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS.

A number of institutional investors have recently modified their holdings of the business. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Apple during the 2nd quarter worth approximately $27,000. Milestone Resources Group Ltd increased its holdings in Apple by 57.7% in the 2nd quarter. Milestone Resources Group Ltd now owns 216 shares of the iPhone maker’s stock valued at $30,000 after buying an additional 79 shares during the period. Kessler Investment Group LLC raised its stake in shares of Apple by 585.7% in the 2nd quarter. Kessler Investment Group LLC now owns 576 shares of the iPhone maker’s stock valued at $79,000 after buying an additional 492 shares in the last quarter. Pinz Capital Management LP bought a new position in shares of Apple during the 1st quarter worth about $72,000. Finally, Geo Capital Gestora de Recursos Ltd boosted its position in shares of Apple by 135.6% during the 1st quarter. Geo Capital Gestora de Recursos Ltd now owns 655 shares of the iPhone maker’s stock valued at $80,000 after acquiring an additional 377 shares in the last quarter. 54.44% of the stock is owned by hedge funds and other institutional investors.

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In other Apple news, SVP Deirdre O’brien sold 14,877 shares of the company’s stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $145.99, for a total transaction of $2,171,893.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 2,386,440 shares of the business’s stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $148.58, for a total value of $354,577,255.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,418,317 shares of company stock valued at $359,229,278. 0.06% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Monday, August 9th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, August 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.59%. Apple’s dividend payout ratio is currently 26.83%.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

The News Highlights

  • Piper Sandler Research Analysts Lower Earnings Estimates for Apple Inc. (NASDAQ:AAPL)
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