Apple Inc. (NASDAQ:AAPL) – Oppenheimer lifted their FY2021 earnings estimates for Apple in a research report issued on Tuesday, March 24th. Oppenheimer analyst A. Uerkwitz now anticipates that the iPhone maker will post earnings of $15.88 per share for the year, up from their previous forecast of $15.83. Oppenheimer has a “Outperform” rating and a $320.00 price objective on the stock.
Several other equities research analysts have also commented on AAPL. Deutsche Bank raised shares of Apple from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Tuesday. Wells Fargo & Co raised shares of Apple from an “equal weight” rating to an “overweight” rating and set a $315.00 price target on the stock in a report on Friday, March 13th. Cowen reiterated a “buy” rating and issued a $370.00 price objective on shares of Apple in a research report on Tuesday, February 25th. Piper Jaffray Companies upped their price objective on shares of Apple from $290.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Finally, Credit Suisse Group set a $290.00 price objective on shares of Apple and gave the stock a “neutral” rating in a research report on Monday, March 16th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $303.07.
NASDAQ:AAPL opened at $258.46 on Thursday. Apple has a one year low of $170.27 and a one year high of $327.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.56 and a current ratio of 1.60. The firm has a market cap of $1,110.76 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.80 and a beta of 1.30. The firm’s fifty day moving average is $288.49 and its two-hundred day moving average is $270.30.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, beating the consensus estimate of $4.54 by $0.45. Apple had a net margin of 21.49% and a return on equity of 60.19%. The company had revenue of $91.80 billion for the quarter, compared to analyst estimates of $88.41 billion. During the same period in the prior year, the company earned $4.18 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd raised its holdings in shares of Apple by 2,180.0% in the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 109 shares in the last quarter. Sage Financial Group Inc. acquired a new stake in shares of Apple in the 4th quarter valued at $36,000. CXI Advisors acquired a new stake in shares of Apple in the 4th quarter valued at $68,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Apple in the 4th quarter valued at $117,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Apple in the 4th quarter valued at $129,000. Institutional investors own 60.69% of the company’s stock.
In related news, Director Arthur D. Levinson sold 1,429 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.11, for a total transaction of $434,573.19. Following the completion of the transaction, the director now owns 1,134,712 shares in the company, valued at approximately $345,077,266.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by corporate insiders.
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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