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.
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.
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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