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Research Analysts Set Expectations for Apple Inc.’s Q1 2023


Apple Inc. (NASDAQ:AAPLGet Rating) – KeyCorp lowered their Q1 2023 earnings estimates for shares of Apple in a note issued to investors on Thursday, December 8th. KeyCorp analyst B. Nispel now anticipates that the iPhone maker will post earnings per share of $1.90 for the quarter, down from their previous estimate of $2.07. KeyCorp has a “Buy” rating and a $175.00 price objective on the stock. The consensus estimate for Apple’s current full-year earnings is $6.22 per share. KeyCorp also issued estimates for Apple’s Q2 2023 earnings at $1.34 EPS, Q3 2023 earnings at $1.18 EPS, FY2023 earnings at $5.93 EPS and FY2024 earnings at $6.45 EPS.

Several other analysts also recently commented on AAPL. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. UBS Group set a $180.00 price target on shares of Apple in a research note on Thursday, December 1st. Barclays decreased their price target on shares of Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, November 7th. Morgan Stanley decreased their price target on shares of Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $176.26.

Apple Stock Performance

Shares of AAPL stock opened at $142.16 on Monday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market capitalization of $2.26 trillion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 1.83 and a beta of 1.22. The company’s 50 day moving average price is $145.41 and its two-hundred day moving average price is $149.78. Apple has a 52 week low of $129.04 and a 52 week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Insiders sold a total of 380,851 shares of company stock valued at $56,707,789 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AAPL. Wealthspire Advisors LLC grew its holdings in shares of Apple by 42.8% during the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after purchasing an additional 89,865 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Apple by 8.3% in the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock valued at $13,029,000 after acquiring an additional 5,703 shares during the last quarter. Emerald Advisors LLC boosted its holdings in Apple by 2.4% in the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after acquiring an additional 465 shares during the last quarter. Sageworth Trust Co boosted its holdings in Apple by 150.3% in the second quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock valued at $793,000 after acquiring an additional 3,482 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Apple by 0.6% in the second quarter. Farmers & Merchants Investments Inc. now owns 505,703 shares of the iPhone maker’s stock valued at $69,140,000 after acquiring an additional 3,172 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

About Apple

(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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Earnings History and Estimates for Apple (NASDAQ:AAPL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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