Apple Inc. (NASDAQ:AAPL) Announces $0.26 Quarterly Dividend

Key Points

• Apple Inc. will issue a quarterly dividend of $0.26 per share on August 14th, with a dividend yield of 0.5% based on an annualized dividend.
• The company has announced a dividend payout ratio of 13.3%, suggesting that its dividend is well-supported by earnings, with expectations of $8.20 earnings per share next year.
• Despite a recent decline, Apple shares have a market capitalization of $3.10 trillion, and analysts have varying price targets, with a consensus target price of $234.94 indicating a "Moderate Buy" rating.

Apple Inc. (NASDAQ:AAPL - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Stockholders of record on Monday, August 11th will be paid a dividend of 0.26 per share by the iPhone maker on Thursday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%.

Apple has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apple to earn $8.20 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 12.7%.

Apple Price Performance

Shares of NASDAQ:AAPL traded down $5.47 during midday trading on Friday, reaching $202.10. 58,745,675 shares of the company's stock traded hands, compared to its average volume of 56,668,555. The company has a fifty day simple moving average of $205.22 and a two-hundred day simple moving average of $213.98. Apple has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The company has a market cap of $3.02 trillion, a P/E ratio of 31.48, a PEG ratio of 2.30 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. Apple's quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts predict that Apple will post 7.28 EPS for the current fiscal year.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ryan Investment Management Inc. acquired a new position in Apple during the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the period. Life Planning Partners Inc acquired a new position in Apple during the 4th quarter worth $47,000. Nexus Investment Management ULC boosted its position in Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker's stock worth $53,000 after acquiring an additional 200 shares during the period. Finally, Elite Financial Inc. acquired a new position in Apple during the 1st quarter worth $58,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.