Apple Inc. (NASDAQ:AAPL) to Issue $0.27 Quarterly Dividend

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

Apple has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 14 years. Apple has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.4%

Shares of AAPL stock opened at $333.43 on Friday. Apple has a twelve month low of $201.50 and a twelve month high of $344.57. The stock’s fifty day simple moving average is $309.51 and its 200 day simple moving average is $281.25. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $4.90 trillion, a P/E ratio of 40.32, a P/E/G ratio of 2.92 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $1.57 earnings per share. As a group, sell-side analysts predict that Apple will post 8.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AAPL shares. Tigress Financial reiterated a “strong-buy” rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Citigroup restated a “buy” rating and issued a $365.00 price target (up from $315.00) on shares of Apple in a research report on Monday, July 13th. Monness Crespi & Hardt lifted their price target on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Raymond James Financial reissued a “market perform” rating on shares of Apple in a research note on Friday. Finally, Evercore reissued an “outperform” rating on shares of Apple in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $328.60.

About Apple

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.