Apple Inc. (AAPL) to Issue Quarterly Dividend of $0.27 on May 14th

Apple Inc. (NASDAQ:AAPL) announced a quarterly dividend on Thursday, April 30th. Shareholders of record on Monday, May 11th will be given a dividend of 0.27 per share by the iPhone maker on Thursday, May 14th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, May 11th. This is a 3.8% increase from Apple’s previous quarterly dividend of $0.26.

Apple has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Apple has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apple to earn $9.32 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 11.2%.

Apple Trading Up 3.3%

AAPL opened at $280.19 on Friday. Apple has a 1-year low of $193.25 and a 1-year high of $288.62. The company has a current ratio of 0.97, a quick ratio of 0.94 and a debt-to-equity ratio of 0.87. The company has a market cap of $4.11 trillion, a P/E ratio of 35.42, a price-to-earnings-growth ratio of 2.47 and a beta of 1.06. The company has a fifty day moving average price of $260.73 and a two-hundred day moving average price of $265.02.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 161.46%. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. Analysts predict that Apple will post 8.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Apple in a research note on Friday. Evercore reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, March 2nd. KGI Securities raised shares of Apple to an “outperform” rating and set a $306.00 price target for the company in a research note on Friday, January 30th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday. Finally, Scotiabank set a $330.00 price objective on shares of Apple in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $304.31.

Apple Company Profile

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.