Wells Fargo & Company Increases Apple (NASDAQ:AAPL) Price Target to $155.00


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Apple (NASDAQ:AAPL) had its price target raised by analysts at Wells Fargo & Company from $140.00 to $155.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the iPhone maker’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 18.42% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. UBS Group set a $115.00 target price on shares of Apple and gave the stock a “neutral” rating in a report on Monday, January 4th. Argus raised shares of Apple to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, October 14th. Zacks Investment Research lowered shares of Apple from a “buy” rating to a “hold” rating and set a $121.00 price objective for the company. in a report on Tuesday, September 29th. Wedbush upped their price objective on shares of Apple from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, December 9th. Finally, BNP Paribas raised shares of Apple from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $77.00 to $140.00 in a report on Friday, September 25th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $118.61.

Apple stock opened at $130.89 on Tuesday. Apple has a 52-week low of $53.15 and a 52-week high of $138.79. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.85 and a beta of 1.28. The company has a fifty day simple moving average of $126.77 and a 200-day simple moving average of $115.12. The company has a quick ratio of 1.33, a current ratio of 1.36 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, November 3rd. The iPhone maker reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. Apple had a net margin of 20.91% and a return on equity of 75.15%. The business had revenue of $64.70 billion during the quarter, compared to analyst estimates of $63.33 billion. During the same quarter in the prior year, the firm earned $3.03 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Apple will post 4.03 EPS for the current fiscal year.

In other news, SVP Deirdre O’brien sold 31,200 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $119.80, for a total transaction of $3,737,760.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $110.42, for a total transaction of $1,877,140.00. Following the transaction, the senior vice president now owns 320,784 shares in the company, valued at $35,420,969.28. The disclosure for this sale can be found here. Insiders sold 63,040 shares of company stock worth $7,415,586 over the last quarter. 0.06% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Phocas Financial Corp. grew its position in Apple by 0.4% in the 2nd quarter. Phocas Financial Corp. now owns 4,979 shares of the iPhone maker’s stock valued at $1,816,000 after buying an additional 20 shares during the last quarter. Driehaus Capital Management LLC grew its position in Apple by 1.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,704 shares of the iPhone maker’s stock valued at $986,000 after buying an additional 37 shares during the last quarter. Advisory Resource Group grew its position in Apple by 1.4% in the 2nd quarter. Advisory Resource Group now owns 4,485 shares of the iPhone maker’s stock valued at $1,636,000 after buying an additional 64 shares during the last quarter. TD Capital Management LLC grew its position in Apple by 1.3% in the 2nd quarter. TD Capital Management LLC now owns 5,107 shares of the iPhone maker’s stock valued at $1,863,000 after buying an additional 65 shares during the last quarter. Finally, Lountzis Asset Management LLC acquired a new stake in Apple in the second quarter valued at $26,000. Hedge funds and other institutional investors own 57.77% of the company’s stock.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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