Apple Inc. (AAPL) To Go Ex-Dividend on August 10th

by · The Markets Daily

Apple Inc. (NASDAQ:AAPL – Get Free Report) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Monday, August 10th will be paid a dividend of 0.27 per share by the iPhone maker on Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th.

Apple has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Apple has a dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apple to earn $9.57 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 11.3%.

Apple Price Performance

Shares of AAPL opened at $308.91 on Friday. The firm has a fifty day simple moving average of $309.51 and a two-hundred day simple moving average of $281.45. The firm has a market cap of $4.54 trillion, a PE ratio of 35.43, a P/E/G ratio of 2.88 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple has a 1-year low of $201.50 and a 1-year high of $344.57.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 142.29% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the business posted $1.57 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities analysts anticipate that Apple will post 8.76 EPS for the current year.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lowered their price target on shares of Apple from $345.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Friday, April 17th. Rosenblatt Securities raised their price target on Apple from $276.00 to $300.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $331.60.

Check Out Our Latest Stock Analysis on AAPL

About Apple

(Get Free Report)

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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