Apple (NASDAQ:AAPL)‘s stock had its “hold” rating reaffirmed by research analysts at Longbow Research in a report issued on Monday, TipRanks reports.
Several other equities analysts have also recently issued reports on the company. Nomura lifted their price objective on Apple from $180.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Credit Suisse Group set a $209.00 price objective on Apple and gave the stock a “neutral” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “sell” rating and set a $150.00 price objective on shares of Apple in a report on Monday, July 8th. Cowen lifted their price objective on Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Argus lifted their price objective on Apple to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, twenty have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $217.12.
AAPL stock traded down $5.41 during midday trading on Monday, hitting $203.56. 26,668,425 shares of the stock were exchanged, compared to its average volume of 29,189,367. The stock’s 50-day moving average is $203.54. The stock has a market capitalization of $908.31 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. Apple has a fifty-two week low of $142.00 and a fifty-two week high of $233.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. Apple’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. Analysts predict that Apple will post 11.58 EPS for the current fiscal year.
Apple announced that its Board of Directors has approved a share buyback plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Chris Kondo sold 4,376 shares of Apple stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the completion of the sale, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Semmax Financial Advisors Inc. acquired a new position in shares of Apple in the fourth quarter worth about $50,000. Avondale Wealth Management lifted its stake in shares of Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after acquiring an additional 64 shares in the last quarter. NuWave Investment Management LLC lifted its stake in shares of Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after acquiring an additional 449 shares in the last quarter. Horan Securities Inc. lifted its stake in shares of Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after acquiring an additional 221 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. lifted its stake in shares of Apple by 339.1% in the second quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock worth $151,000 after acquiring an additional 590 shares in the last quarter. 59.67% of the stock is owned by hedge funds and other institutional investors.
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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