Apple (AAPL) Likely to Announce Additional $50B Buyback and 10%+ Dividend Hike with Earnings Next Week - Wells Fargo

April 19, 2021 7:11 AM EDT
Get Alerts AAPL Hot Sheet
Price: $130.21 +0.36%

Rating Summary:
    44 Buy, 20 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
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Wells Fargo analyst Aaron Rakers reiterated an Overweight rating and $160.00 price target on Apple (NASDAQ: AAPL) expecting the company to announce an additional $50B share repurchase and 10%+ dividend hike when it reports F2Q21 results on April 28th.

The analyst stated "Alongside F2Q21 results, we expect the company to announce an increase to its share repurchase authorization of~$50B, which compares to increases of $35B, $100B, $75B, and $50B in 2017, 2018,2019, and 2020, respectively. Additionally, and perhaps a more important near-term driver of shares, we believe Apple could announce a dividend increase of +10% or more($0.90/sh.+ annualized) given significant FCF generation. This would represent the highest dividend increase since 2018, when the company announced a 16% dividend increase, and would return Apple to a ~10% annual dividend growth trajectory, up from the more modest +5.5% and +6.5% increases in 2019 and 2020, respectively."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $133.81 yesterday.

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Dividend, Stock Buyback, Earnings, Wells Fargo