Apple (NASDAQ:AAPL – Get Free Report) had its target price raised by equities research analysts at Loop Capital to $300.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Loop Capital’s target price suggests a potential upside of 27.19% from the stock’s current price.
A number of other brokerages also recently issued reports on AAPL. UBS Group reaffirmed a “hold” rating and issued a $236.00 target price on shares of Apple in a research note on Wednesday, October 16th. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Maxim Group reaffirmed a “hold” rating and issued a $203.00 target price on shares of Apple in a research note on Tuesday, September 10th. Citigroup reaffirmed a “buy” rating and issued a $255.00 target price on shares of Apple in a research note on Wednesday, October 2nd. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $239.27.
Get Our Latest Stock Report on AAPL
Apple Trading Down 0.3 %
Shares of AAPL stock opened at $235.86 on Monday. The stock’s fifty day moving average is $226.46 and its two-hundred day moving average is $209.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm has a market capitalization of $3.62 trillion, a P/E ratio of 36.68, a PEG ratio of 2.40 and a beta of 1.24. Apple has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. Research analysts expect that Apple will post 6.65 earnings per share for the current fiscal year.
Insider Activity
In related news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company’s stock.
Institutional Trading of Apple
Institutional investors have recently bought and sold shares of the company. Bellwether Advisors LLC lifted its position in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after acquiring an additional 19,352 shares in the last quarter. WT Asset Management Ltd purchased a new position in Apple during the second quarter worth about $80,057,000. Councilmark Asset Management LLC purchased a new position in Apple during the first quarter worth about $11,776,000. TD Asset Management Inc lifted its position in Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after buying an additional 1,557,848 shares during the period. Finally, Larson Financial Group LLC lifted its position in Apple by 62.0% during the second quarter. Larson Financial Group LLC now owns 151,991 shares of the iPhone maker’s stock worth $32,012,000 after buying an additional 58,153 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.
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