Deutsche Bank set a $205.00 price target on Apple (NASDAQ:AAPL) in a research report released on Tuesday, June 25th, Stock Target Advisor reports. The brokerage currently has a neutral rating on the iPhone maker’s stock.
Several other equities research analysts have also commented on AAPL. Piper Jaffray Companies upped their price objective on Apple from $201.00 to $230.00 and gave the stock an overweight rating in a research note on Wednesday, May 1st. Sanford C. Bernstein set a $190.00 target price on shares of Apple and gave the stock a neutral rating in a report on Wednesday, May 1st. Morgan Stanley upped their target price on shares of Apple from $234.00 to $240.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Jefferies Financial Group increased their price objective on shares of Apple from $160.00 to $210.00 and gave the stock a hold rating in a research report on Wednesday, May 1st. Finally, Loop Capital raised their target price on shares of Apple to $190.00 and gave the stock a hold rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has an average rating of Hold and a consensus target price of $209.12.
NASDAQ:AAPL opened at $202.73 on Tuesday. The company has a market capitalization of $927.35 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. Apple has a 52-week low of $142.00 and a 52-week high of $233.47. The company’s fifty day simple moving average is $189.53. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.09. Apple had a return on equity of 51.29% and a net margin of 22.12%. The business had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $57.40 billion. During the same quarter last year, the business posted $2.73 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts predict that Apple will post 11.47 earnings per share for the current year.
Apple announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 30th that allows the company to buyback $75.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Apple news, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the sale, the chief operating officer now directly owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Luca Maestri sold 51,138 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the completion of the sale, the insider now directly owns 27,448 shares in the company, valued at $5,396,551.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,549 shares of company stock worth $29,300,960. 0.05% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Semmax Financial Advisors Inc. purchased a new stake in shares of Apple during the fourth quarter valued at approximately $50,000. Contravisory Investment Management Inc. boosted its holdings in shares of Apple by 30.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after acquiring an additional 144 shares during the period. INR Advisory Services LLC acquired a new position in shares of Apple during the fourth quarter valued at $124,000. CKW Financial Group boosted its holdings in shares of Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after acquiring an additional 105 shares during the period. Finally, Stratford Consulting LLC acquired a new position in shares of Apple during the third quarter valued at $226,000. Institutional investors and hedge funds own 58.54% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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