Apple’s (AAPL) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Apple (NASDAQ:AAPLFree Report) in a research report released on Monday morning,Benzinga reports. Morgan Stanley currently has a $315.00 price objective on the iPhone maker’s stock.

Other equities analysts have also recently issued research reports about the company. CLSA increased their target price on Apple from $265.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, December 5th. Bank of America lowered their price target on Apple from $325.00 to $320.00 and set a “buy” rating on the stock in a research note on Monday. Moffett Nathanson increased their price objective on Apple from $241.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Monness Crespi & Hardt raised their price objective on Apple from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Jefferies Financial Group set a $330.00 target price on shares of Apple in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $297.58.

View Our Latest Analysis on AAPL

Apple Stock Up 0.4%

Shares of NASDAQ AAPL opened at $252.62 on Monday. The firm has a market cap of $3.71 trillion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. The company’s 50-day simple moving average is $260.48 and its 200-day simple moving average is $262.46. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.87. Apple has a 52-week low of $169.21 and a 52-week high of $288.62.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, January 29th. The iPhone maker reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.17. Apple had a net margin of 27.04% and a return on equity of 159.94%. The firm had revenue of $143.76 billion for the quarter, compared to analyst estimates of $138.25 billion. During the same period last year, the company posted $2.40 EPS. Apple’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities analysts predict that Apple will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were given a dividend of $0.26 per share. The ex-dividend date was Monday, February 9th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.15%.

Institutional Trading of Apple

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Apple during the fourth quarter worth about $52,266,468,000. Nuveen LLC acquired a new position in Apple in the 1st quarter valued at about $17,472,482,000. PKS Advisory Services LLC boosted its holdings in Apple by 98,917.0% in the 2nd quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker’s stock valued at $12,106,000 after purchasing an additional 57,898,088 shares during the last quarter. Cardano Risk Management B.V. grew its stake in shares of Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after buying an additional 37,746,784 shares during the period. Finally, Laurel Wealth Advisors LLC grew its stake in shares of Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after buying an additional 26,937,401 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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About Apple

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Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

Further Reading

Analyst Recommendations for Apple (NASDAQ:AAPL)

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