Apple (NASDAQ:AAPL) had its price objective increased by JPMorgan Chase & Co. from $233.00 to $239.00 in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the iPhone maker’s stock.
A number of other equities analysts also recently commented on AAPL. Raymond James restated a hold rating on shares of Apple in a research note on Tuesday, March 26th. Jefferies Financial Group raised their target price on shares of EXACT Sciences from $100.00 to $115.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Citigroup set a $73.00 target price on shares of Esperion Therapeutics and gave the company a buy rating in a research note on Tuesday, May 28th. Wedbush set a $11.00 price target on shares of Sangamo Therapeutics and gave the stock a hold rating in a report on Monday, July 8th. Finally, Credit Suisse Group set a €21.78 ($25.33) price target on shares of Deutsche Lufthansa and gave the stock a buy rating in a report on Monday, June 17th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $209.27.
Shares of AAPL stock opened at $203.30 on Tuesday. Apple has a 1 year low of $142.00 and a 1 year high of $233.47. The company’s fifty day simple moving average is $192.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32. The company has a market cap of $935.40 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.09. Apple had a net margin of 22.12% and a return on equity of 51.29%. The company had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $57.40 billion. During the same quarter in the prior year, the firm posted $2.73 EPS. Apple’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Apple will post 11.47 earnings per share for the current fiscal year.
Apple declared that its board has authorized a share buyback plan on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction 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 completion of the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $246,344,153.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 56,411 shares of Apple stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the transaction, the chief operating officer now directly owns 151,187 shares of the company’s stock, valued at $31,803,697.32. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. UNIVEST FINANCIAL Corp grew its position in shares of Apple by 0.3% in the 2nd quarter. UNIVEST FINANCIAL Corp now owns 32,604 shares of the iPhone maker’s stock valued at $6,453,000 after buying an additional 113 shares during the last quarter. Northstar Group Inc. raised its stake in Apple by 18.5% during the 2nd quarter. Northstar Group Inc. now owns 44,428 shares of the iPhone maker’s stock worth $8,793,000 after buying an additional 6,927 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Apple by 2.9% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 23,364 shares of the iPhone maker’s stock worth $4,624,000 after buying an additional 664 shares during the period. Smith Salley & Associates raised its stake in shares of Apple by 3.6% in the second quarter. Smith Salley & Associates now owns 104,946 shares of the iPhone maker’s stock worth $20,771,000 after purchasing an additional 3,662 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. raised its stake in shares of Apple by 3.7% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 12,959 shares of the iPhone maker’s stock worth $2,565,000 after purchasing an additional 464 shares during the last quarter. Institutional investors and hedge funds own 58.54% of the company’s stock.
Apple Company Profile
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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