Apple's shares set new closing high at $133.29

Pablo Tucker
February 14, 2017

As a result of the unit shipment increase in estimates, Jankowski's raising her fiscal 2018 estimates to $251.45 billion in revenue and $10.69 per share in earnings from a prior $245.71 billion and $10.37. Schafer Cullen Capital Management Inc. boosted its stake in shares of Apple by 1.0% in the third quarter. Armbruster Capital Management Inc. raised its stake in shares of Apple by 35.1% in the third quarter.

Since the beginning of the calendar year, the stock is 14.57%. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. And Apple CEO Tim Cook believes more runway for growth for smartphones will continue to lift the iPhone segment. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock.

Apple Inc. has a 52 week low of $89.47 and a 52 week high of $132.94.

The previous record-high closing price for the company was $132.54, set in May 2015.

The stock has now run up 10% since reporting fiscal first-quarter results after the January 31 close.

Jankowski takes her cue from last week's earnings report by Lumentum Holdings (LITE), which many believe could be a laser supplier for 3-D sensing in a forthcoming iPhone. The company earned $78.35 billion during the quarter, compared to analysts' expectations of $77.37 billion. While Apple doesn't break out profitability by segment, services are generally always higher-margin than hardware. The business's revenue was up 3.3% on a year-over-year basis. During the same period past year, the business earned $3.28 earnings per share. On average, equities analysts predict that Apple Inc. will post $8.95 earnings per share for the current year. Investors of record on Monday, February 13th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, February 9th. Apple's payout ratio is now 27.31%.

A number of other research analysts have also recently commented on the stock.

UBS stated its 12-month target for Apple shares is $138 as part of a "buy" rating.

In contrast, the number of mutual funds reporting they became Apple shareholders in recent quarterly filings has jumped by 187 percent to 287, while the number of mutual funds liquidating their Apple holdings dropped by 26 percent to 151, according to Morningstar. William Blair reiterated an "outperform" rating on shares of Apple in a report on Tuesday, February 7th. And $150 seems like an easy target for the stock to reach. Bank of America Corporation boosted their target price on shares of Apple from $140.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, February 8th. (NASDAQ:AAPL). At the time of writing, the First Call consensus price target for the company is $139.19.

The shine on Apple's stock has never been brighter. The stock was sold at an average price of $113.98, for a total transaction of $606,715.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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