Tags: Bernstein | Apple | Stock | Split

Sanford Bernstein: Apple Considering Stock Split, May Join Dow Index

Apple Inc. is considering a stock split that could prompt the company to be added to the Dow Jones Industrial Average, according to a research report from Sanford C. Bernstein & Co.

Apple’s decision in March to pay its first dividend in 17 years makes it more likely the stock could be added to the index after a split, said Toni Sacconaghi, an analyst at Bernstein who rates the shares outperform, in a report.

“We see the timing as ripe,” Sacconaghi said. “Apple’s initiation of a dividend brings the company in line with all other Dow components. We note that Apple is currently the only company above $215 billion in market cap that pays a dividend and is not included in the Dow.”

Apple, the world’s largest company by market value, climbed 1.6 percent to $604.36 at 9:32 a.m. in New York. The shares of the Cupertino, California-based company have risen 47 percent this year through Monday.


© Copyright 2015 Bloomberg News. All rights reserved.

1Like our page
2Share
157
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved