Credit Suisse Group reaffirmed their neutral rating on shares of Apple (NASDAQ:AAPL) in a report released on Monday morning, AnalystRatings.com reports. The brokerage currently has a $209.00 target price on the iPhone maker’s stock.
A number of other research analysts also recently weighed in on AAPL. Citigroup set a $73.00 price target on Esperion Therapeutics and gave the company a buy rating in a research note on Tuesday, May 28th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Needham & Company LLC reissued a hold rating on shares of Micron Technology in a research note on Thursday, March 21st. New Street Research downgraded Apple from a neutral rating to a sell rating and set a $170.00 price target on the stock. in a research note on Friday, April 12th. Finally, Cascend Securities reissued a buy rating and issued a $240.00 price target (up previously from $210.00) on shares of Apple in a research note on Thursday, June 20th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $210.69.
NASDAQ:AAPL opened at $205.66 on Monday. The stock’s fifty day moving average price is $195.77. Apple has a 52-week low of $142.00 and a 52-week high of $233.47. 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 firm has a market cap of $935.63 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.23.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.09. The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.73 EPS. Analysts forecast that Apple will post 11.47 EPS for the current fiscal year.
Apple declared that its board has initiated a share buyback program on Tuesday, April 30th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the completion of the transaction, the director now owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the transaction, the chief operating officer now owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in AAPL. Semmax Financial Advisors Inc. bought a new position in shares of Apple in the 4th quarter valued at about $50,000. NuWave Investment Management LLC grew its holdings in shares of Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after acquiring an additional 449 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 144 shares in the last quarter. INR Advisory Services LLC bought a new position in shares of Apple in the 4th quarter valued at about $124,000. Finally, CKW Financial Group grew its holdings in shares of Apple by 15.0% in the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.
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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