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FY2019 EPS Estimates for Apple Inc. (NASDAQ:AAPL) Boosted by KeyCorp – jj
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FY2019 EPS Estimates for Apple Inc. (NASDAQ:AAPL) Boosted by KeyCorp

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Apple Inc. (NASDAQ:AAPL) – KeyCorp upped their FY2019 earnings per share (EPS) estimates for Apple in a research report issued on Monday, June 17th, Zacks Investment Research reports. KeyCorp analyst A. Hargreaves now expects that the iPhone maker will earn $11.48 per share for the year, up from their previous forecast of $11.46. KeyCorp also issued estimates for Apple’s Q4 2019 earnings at $2.67 EPS, Q2 2020 earnings at $2.77 EPS, Q3 2020 earnings at $2.45 EPS and FY2020 earnings at $12.61 EPS.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a report on Tuesday. They set an “underweight” rating and a $20.48 target price for the company. BidaskClub upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Daiwa Capital Markets set a $212.00 price target on Apple and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Credit Suisse Group set a €21.78 ($25.33) price target on Deutsche Lufthansa and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Rosenblatt Securities reissued a “sell” rating and set a $150.00 price target on shares of Apple in a research report on Monday, July 8th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $209.27.

Shares of NASDAQ:AAPL traded up $1.55 during trading on Wednesday, reaching $203.30. 17,587,122 shares of the stock were exchanged, compared to its average volume of 21,233,328. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32. Apple has a 12-month low of $142.00 and a 12-month high of $233.47. The firm has a market capitalization of $935.40 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. The company has a 50-day moving average price of $192.74.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.09. Apple had a return on equity of 51.29% and a net margin of 22.12%. The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $57.40 billion. During the same quarter in the previous year, the business earned $2.73 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis.

Apple declared that its Board of Directors has approved a share buyback program on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $246,344,153.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 56,411 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the sale, the chief operating officer now owns 151,187 shares of the company’s stock, valued at $31,803,697.32. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Weather Gauge Advisory LLC grew its stake in Apple by 0.4% during the 2nd quarter. Weather Gauge Advisory LLC now owns 15,905 shares of the iPhone maker’s stock worth $3,148,000 after buying an additional 60 shares during the last quarter. Insight 2811 Inc. grew its stake in Apple by 1.4% during the 2nd quarter. Insight 2811 Inc. now owns 4,695 shares of the iPhone maker’s stock worth $960,000 after buying an additional 63 shares during the last quarter. Cumberland Advisors Inc. grew its stake in Apple by 1.0% during the 2nd quarter. Cumberland Advisors Inc. now owns 6,997 shares of the iPhone maker’s stock worth $1,385,000 after buying an additional 67 shares during the last quarter. Gradient Capital Advisors LLC grew its stake in Apple by 0.3% during the 4th quarter. Gradient Capital Advisors LLC now owns 25,288 shares of the iPhone maker’s stock worth $3,989,000 after buying an additional 69 shares during the last quarter. Finally, New Potomac Partners LLC grew its stake in Apple by 0.5% during the 4th quarter. New Potomac Partners LLC now owns 14,501 shares of the iPhone maker’s stock worth $2,287,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 58.54% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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