Apple Inc. Plans Quarterly Dividend of $0.26 (NASDAQ:AAPL)

by · The Markets Daily

Apple Inc. (NASDAQ:AAPL – Get Free Report) announced a quarterly dividend on Thursday, January 29th. Investors of record on Monday, February 9th will be paid a dividend of 0.26 per share by the iPhone maker on Thursday, February 12th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, February 9th.

Apple has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 14 years. Apple has a dividend payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Apple to earn $8.20 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 12.7%.

Apple Trading Down 0.5%

AAPL stock traded down $1.41 during trading on Friday, hitting $256.87. The company had a trading volume of 14,628,734 shares, compared to its average volume of 48,068,602. The firm has a 50-day moving average price of $268.62 and a 200-day moving average price of $251.07. Apple has a 12 month low of $169.21 and a 12 month high of $288.62. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The stock has a market cap of $3.78 trillion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.39 and a beta of 1.09.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, January 29th. The iPhone maker reported $2.84 EPS for the quarter, beating the consensus estimate of $2.65 by $0.19. The company had revenue of $143.76 billion during the quarter, compared to analysts’ expectations of $138.25 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%. As a group, analysts predict that Apple will post 7.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AAPL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday. Raymond James Financial reissued a “market perform” rating on shares of Apple in a research note on Friday, January 2nd. Argus set a $325.00 price target on Apple and gave the company a “buy” rating in a research note on Friday, October 31st. DZ Bank upgraded Apple from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 4th. Finally, Jefferies Financial Group set a $276.47 price target on shares of Apple and gave the company a “hold” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $286.92.

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Apple Company Profile

(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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