Apple (NASDAQ:AAPL) had its price objective increased by Loop Capital from $330.00 to $376.00 in a note issued to investors on Friday, The Fly reports. The brokerage presently has a “hold” rating on the iPhone maker’s stock. Loop Capital’s price objective suggests a potential downside of 11.54% from the stock’s current price.
Several other research analysts also recently commented on the stock. Oppenheimer boosted their price objective on shares of Apple from $320.00 to $420.00 and gave the company an “outperform” rating in a research report on Friday. Daiwa Capital Markets raised their price objective on Apple from $297.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Nomura boosted their target price on Apple from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Sanford C. Bernstein increased their target price on shares of Apple from $370.00 to $400.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $340.00 price target (up from $295.00) on shares of Apple in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $370.23.
Shares of NASDAQ AAPL opened at $425.04 on Friday. The business has a fifty day moving average price of $367.96 and a two-hundred day moving average price of $313.71. The stock has a market capitalization of $1,842.27 billion, a PE ratio of 32.32, a P/E/G ratio of 3.13 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46. Apple has a fifty-two week low of $192.58 and a fifty-two week high of $425.66.
Apple shares are set to split on Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly issued shares will be payable to shareholders after the closing bell on Friday, August 28th.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.55. Apple had a net margin of 21.33% and a return on equity of 67.82%. The business had revenue of $59.69 billion during the quarter, compared to analysts’ expectations of $51.94 billion. On average, equities analysts expect that Apple will post 12.43 EPS for the current year.
In other Apple news, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction on Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the sale, the insider now directly owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.05% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new position in Apple during the 1st quarter worth approximately $536,884,000. Wellington Management Group LLP increased its holdings in shares of Apple by 18.2% during the first quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock valued at $6,850,960,000 after acquiring an additional 4,148,565 shares in the last quarter. Swiss National Bank raised its position in shares of Apple by 21.0% during the first quarter. Swiss National Bank now owns 17,300,399 shares of the iPhone maker’s stock worth $4,399,318,000 after purchasing an additional 3,000,800 shares during the period. Capital Research Global Investors grew its position in Apple by 29.2% in the 1st quarter. Capital Research Global Investors now owns 8,842,313 shares of the iPhone maker’s stock valued at $2,248,512,000 after purchasing an additional 1,997,259 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Apple by 11.4% during the 1st quarter. Janus Henderson Group PLC now owns 19,154,561 shares of the iPhone maker’s stock valued at $4,870,830,000 after purchasing an additional 1,957,257 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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