Piper Sandler Increases Apple (NASDAQ:AAPL) Price Target to $200.00

Apple (NASDAQ:AAPL) had its target price raised by Piper Sandler from $175.00 to $200.00 in a research report report published on Friday morning, The Fly reports. Piper Sandler currently has an overweight rating on the iPhone maker’s stock.

AAPL has been the topic of a number of other reports. Evercore ISI raised Apple to a top pick rating and lifted their price objective for the company from $180.00 to $200.00 in a research report on Tuesday, December 14th. Tigress Financial upped their price objective on Apple from $182.00 to $198.00 and gave the stock a strong-buy rating in a report on Wednesday, September 22nd. Sanford C. Bernstein upped their price objective on Apple from $132.00 to $170.00 in a report on Tuesday. The Goldman Sachs Group set a $142.00 target price on Apple in a research report on Wednesday, January 5th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $169.00 price objective on shares of Apple in a research report on Friday, October 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $176.74.

Shares of AAPL stock opened at $173.07 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 30.80, a PEG ratio of 2.37 and a beta of 1.20. The stock has a fifty day moving average of $167.84 and a 200 day moving average of $154.11. Apple has a 52 week low of $116.21 and a 52 week high of $182.94.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Wednesday, October 27th. The iPhone maker reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. The firm had revenue of $83.40 billion during the quarter, compared to analyst estimates of $84.94 billion. Apple had a return on equity of 144.13% and a net margin of 25.88%. Apple’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. Equities research analysts anticipate that Apple will post 5.82 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 11th. Stockholders of record on Monday, November 8th were given a dividend of $0.22 per share. The ex-dividend date was Friday, November 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.51%. Apple’s payout ratio is 15.66%.

In related news, CFO Luca Maestri sold 165,829 shares of Apple stock in a transaction that occurred on Tuesday, October 19th. The shares were sold at an average price of $148.62, for a total transaction of $24,645,505.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 18,247 shares of Apple stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $146.35, for a total transaction of $2,670,448.45. The disclosure for this sale can be found here. Insiders sold 218,081 shares of company stock valued at $32,383,704 in the last ninety days. Insiders own 0.06% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dark Forest Capital Management LP acquired a new position in shares of Apple during the 3rd quarter valued at $29,000. Spence Asset Management bought a new stake in shares of Apple in the 4th quarter worth $63,000. Milestone Resources Group Ltd grew its stake in shares of Apple by 92.6% in the 3rd quarter. Milestone Resources Group Ltd now owns 416 shares of the iPhone maker’s stock worth $59,000 after acquiring an additional 200 shares in the last quarter. Navigation Wealth Management Inc. grew its stake in shares of Apple by 21.3% in the 3rd quarter. Navigation Wealth Management Inc. now owns 478 shares of the iPhone maker’s stock worth $68,000 after acquiring an additional 84 shares in the last quarter. Finally, Newfound Research LLC bought a new position in Apple during the third quarter valued at about $77,000. Hedge funds and other institutional investors own 56.49% of the company’s stock.

About Apple

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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