The consensus among analysts is that Apple Inc. (AAPL) is an Overweight stock at the moment, with a recommendation rating of 2.2. 3 analysts rate the stock as a Sell, while 3 rate it as Overweight. 12 out of 41 have rated it as a Hold, with 22 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.7.
Apple Inc. (NASDAQ:AAPL) trade information
Sporting 1.76% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Sep 10 when the AAPL stock price touched $120.5 or saw a rise of 2.7%. Year-to-date, Apple Inc. shares have moved 59.72%, while the 5-day performance has seen it change 3.93%. Over the past 30 days, the shares of Apple Inc. (NASDAQ:AAPL) have changed 2.04%. Short interest in the company has seen 79.68 Million shares shorted with days to cover at 0.47.
Wall Street analysts have a consensus price target for the stock at $116.18, which means that the shares’ value could jump -1.02% from current levels. The projected low price target is $80 while the price target rests at a high of $150. In that case, then, we find that the current price level is +27.79% off the targeted high while a plunge would see the stock lose -31.85% from current levels.
Apple Inc. (AAPL) estimates and forecasts
Figures show that Apple Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +90.5% over the past 6 months, with this year growth rate of 9.09%, compared to 6.3% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -7.9% and 9.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be +4.9%.
26 analysts offering their estimates for the company have set an average revenue estimate of $63.5 Billion for the current quarter. 24 have an estimated revenue figure of $100.87 Billion for the next quarter concluding in December 01, 2020. Year-ago sales stood $64.04 Billion and $88.5 Billion respectively for this quarter and the next, and analysts expect sales will grow by -0.8% for the current quarter and 14% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +13% over the past 5 years. Earnings growth for 2020 is a modest -2.6% while over the next 5 years, the company’s earnings are expected to increase by 12.46%.
Apple Inc. is expected to release its next earnings report between October 28 and November 02 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.82 at a share yield of 0.71%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 1.54%.
Apple Inc. (NASDAQ:AAPL)’s Major holders
Insiders own 0.07% of the company shares, while shares held by institutions stand at 62.12% with a share float percentage of 62.16%. Investors are also buoyed by the number of investors in a company, with Apple Inc. having a total of 4296 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 1.32 Billion shares worth more than $120.02 Billion. As of June 29, 2020, Vanguard Group, Inc. (The) held 7.69% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 1.1 Billion shares as of June 29, 2020. The firm’s total holdings are worth over $100.49 Billion and represent 6.44% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. As of June 29, 2020, the former fund manager holds about 2.6% shares in the company for having 445000000 shares of worth $40.56 Billion while later fund manager owns 338.12 Million shares of worth $30.84 Billion as of June 29, 2020, which makes it owner of about 1.98% of company’s outstanding stock.