Apple (NASDAQ:AAPL) has been assigned a $174.00 target price by stock analysts at HSBC in a research note issued on Monday, MarketBeat Ratings reports. The brokerage currently has a “sell” rating on the iPhone maker’s stock. HSBC’s target price would suggest a potential downside of 6.75% from the stock’s previous close.
AAPL has been the topic of a number of other research reports. ValuEngine cut Apple from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Nomura cut their target price on Apple from $180.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Credit Suisse Group reiterated a “hold” rating and set a $182.00 target price on shares of Apple in a research report on Sunday, March 31st. Jefferies Financial Group set a $160.00 target price on Apple and gave the stock a “hold” rating in a research report on Friday, February 15th. Finally, Citigroup reiterated a “buy” rating and set a $170.00 target price on shares of Apple in a research report on Wednesday, January 30th. Three equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $211.25.
AAPL opened at $186.60 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32. Apple has a one year low of $142.00 and a one year high of $233.47. The stock has a market cap of $928.96 billion, a PE ratio of 15.67, a PEG ratio of 1.60 and a beta of 1.14.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, topping 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 analysts’ expectations of $57.40 billion. During the same quarter in the previous year, the firm earned $2.73 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple will post 11.48 EPS for the current year.
Apple announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the sale, the director now owns 1,168,283 shares of the company’s stock, valued at approximately $246,344,153.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Luca Maestri sold 51,138 shares of Apple stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $196.61, for a total value of $10,054,242.18. Following the completion of the sale, the insider now directly owns 27,448 shares in the company, valued at approximately $5,396,551.28. The disclosure for this sale can be found here. Insiders sold a total of 142,549 shares of company stock worth $29,300,960 in the last ninety days. 0.05% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in AAPL. University of Texas Texas AM Investment Managment Co. lifted its stake in Apple by 505.0% in the 1st quarter. University of Texas Texas AM Investment Managment Co. now owns 242 shares of the iPhone maker’s stock valued at $46,000 after buying an additional 202 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new stake in Apple in the 4th quarter valued at approximately $50,000. Portfolio Solutions LLC purchased a new stake in Apple in the 4th quarter valued at approximately $76,000. Contravisory Investment Management Inc. lifted its stake in Apple by 30.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after buying an additional 144 shares in the last quarter. Finally, Truehand Inc purchased a new stake in Apple in the 4th quarter valued at approximately $108,000. 57.36% of the stock is currently owned by institutional investors and hedge funds.
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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