Shares of AMS, which provides the facial recognition technology used in Apple's iPhones, rose as much as 8 percent on Wednesday morning. Capital Insight Partners LLC now owns 6,292 shares of the iPhone maker's stock valued at $1,065,000 after purchasing an additional 293 shares in the last quarter. The iPhone-maker posted better-than-expected profit and revenue that pushed its stock upward by 4% in the after-hours trading session.
In March, Senator Tammy Baldwin introduced legislation that would restrict companies' ability to buy back stock, though the Bill has little chance of passing.
He said that companies typically bought back stock only when they had extra cash that they would not reinvest otherwise, and that investors would spend that money elsewhere. (NASDAQ:AAPL)'s gross margin stands at 38.40%. The firm has a market capitalization of $858,015.69, a PE ratio of 19.17, a P/E/G ratio of 1.29 and a beta of 1.26. Notably, however, it doesn't appear that Apple is switching to a USB-C interface, but rather merely bundling a USB-C capable adapter, essentially a lower-powered version of its current 29W USB-C power adapter, and the company's standard USB-C to Lighting Cable. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. The iPhone maker reported $3.89 EPS for the quarter, beating the Zacks' consensus estimate of $3.82 by $0.07. The firm had revenue of $61.14 billion during the quarter, compared to analysts' expectations of $60.94 billion.
Apple is yet to reveal a price or release date for the AirPower mat, despite rumours it was coming before the end of March. During the same period a year ago, the firm earned $3.36 EPS.
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It also announced a 16% increase in its quarterly dividend. This is a positive change from Apple's previous quarterly dividend of $0.63. This represents a $2.92 dividend on an annualized basis and a yield of 1.65%. Apple's payout ratio is 27.36%. The company also assured a $100 billion in stock buyouts. "I don't see that from a market point of view or - and certainly not from an iPhone point of view", he replied. He said that "because we're making all the right investments all around the company, it makes flawless sense for us not to keep the cash on our balance sheet but return it to investors".
A number of equities research analysts have recently issued reports on AAPL shares. Macquarie set a $188.00 target price on Apple and gave the company a "buy" rating in a research report on Friday, January 26th.
Canaccord Genuity reiterated its Buy rating and raised its target price to $208 from $200. Apple now has a consensus rating of "Buy" and a consensus target price of $203.58. However, in true Apple style, the company squashed down these estimates and reported nearly envious numbers. Apple presently has an average rating of "Buy" and an average price target of $203.58. Apple accounts for about 4.4% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 2nd biggest holding. Despite the lower Average Selling Price (ASP), revenue attributed to the iPhone rose 14% year-over-year. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The company sold 9.1 million iPads during the first quarter of 2018, with active installed base of iPads having reached an all-time high.
Apple Inc. engages in the design, manufacture, and marketing of media devices, personal computers and mobile communications to consumers, and mid-sized and small businesses; and government, enterprise, and education customers all over the world. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.