Apple to surpass Samsung as top smartphone maker in Q4

Isaac Cain
November 11, 2017

Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker's stock valued at $716,000 after purchasing an additional 20 shares in the last quarter. Blue Sky Asset Management LLC bought a new stake in Apple in the second quarter worth $108,000. The sales of Apple's iPhone 7 and iPhone 6S, together, was almost equal to the sales of 3rd, 4th and 5th top-selling smartphone devices together. Stock Yards Bank & Trust Co. now owns 204,840 shares of the iPhone maker's stock valued at $19,582,000 after buying an additional 10,450 shares in the last quarter. Insiders own 0.08% of the company's stock.

Several other analysts also recently weighed in on the company. Oppenheimer Holdings, Inc. restated a " rating on shares of Apple in a research note on Thursday, August 10th. Finally, Pacific Crest upgraded Apple from a sector weight rating to an overweight rating and set a $187.00 price target on the stock in a research note on Monday, October 16th. Cowen and Company lifted their price target on shares of Apple from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Friday, October 21st. Barclays PLC reiterated a hold rating and set a $146.00 price objective on shares of Apple in a report on Monday, September 4th. Apple has a consensus rating of "Buy" and a consensus price target of $199.14. Seven analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company's stock. The company now has a consensus rating of "Buy" and a consensus target price of $128.47. If you are reading this story on another publication, it was illegally stolen and reposted in violation of worldwide copyright and trademark law. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of United States & global trademark and copyright laws. The original version of this story can be read at Reiterates Buy Rating for Apple Inc. (AAPL) opened at $175.88 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The firm has a market capitalization of $617.59 billion, a price-to-earnings ratio of 13.94 and a beta of 1.29.

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Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.20.

Publishing an analysis of the components within the iPhone X, TechInsights said the estimated cost for Apple per phone would be $466 ($US357.50), giving the tech giant a gross margin of 70 percent on every sale. The business's revenue for the quarter was up 12.2% on a year-over-year basis. Stockholders of record on Monday, November 13th will be issued a $0.63 dividend. Apple's payout ratio is 27.39%. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Johny Srouji sold 10,469 shares of the business's stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $113.98, for a total value of $606,715.54. Following the transaction, the senior vice president now owns 76,250 shares in the company, valued at $12,367,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 411,389 shares of company stock valued at $65,364,467. Apple makes up 1.9% of Terril Brothers Inc.'s investment portfolio, making the stock its 17th largest holding. We heard reports in recent weeks following the iPhone launches that carrier networks were seeing very low demand for the iPhone 8 series, to the extent that customers were either buying older and cheaper iPhone 7 handsets instead, or choosing to wait for the iPhone X. Sales are reportedly so poor by comparison to previous iPhone launches and continued sales of the iPhone 7 series, that Apple has reportedly dialled back production of the iPhone 8 series by as much as 50%.

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