Apple (NASDAQ:AAPL) had its target price boosted by Sanford C. Bernstein from $370.00 to $400.00 in a research report issued to clients and investors on Friday, Briefing.com Automated Import reports. The firm presently has a “market perform” rating on the iPhone maker’s stock. Sanford C. Bernstein’s target price would indicate a potential downside of 5.89% from the company’s current price.
Several other research firms also recently commented on AAPL. Fundamental Research reaffirmed a “buy” rating and issued a $409.26 price objective on shares of Apple in a report on Tuesday, July 14th. DA Davidson upped their price target on shares of Apple from $355.00 to $480.00 and gave the company a “buy” rating in a report on Friday. UBS Group lifted their price objective on Apple from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Friday. HSBC upgraded Apple from a “reduce” rating to a “hold” rating and lowered their target price for the stock from $385.00 to $295.00 in a research note on Wednesday, June 10th. Finally, Nomura Securities raised their price objective on shares of Apple from $225.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirty-one have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $370.23.
NASDAQ AAPL opened at $425.04 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46. The stock’s fifty day moving average price is $367.96 and its 200 day moving average price is $313.71. Apple has a 1 year low of $192.58 and a 1 year high of $425.66. The company has a market cap of $1,842.27 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 3.13 and a beta of 1.18.
Apple shares are set to split on the morning of Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly issued shares will be issued to shareholders after the closing bell on Friday, August 28th.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.55. Apple had a return on equity of 67.82% and a net margin of 21.33%. The business had revenue of $59.69 billion for the quarter, compared to analyst estimates of $51.94 billion. Research analysts expect that Apple will post 12.43 earnings per share for the current year.
In other Apple news, insider Chris Kondo sold 4,491 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the transaction, the insider now owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.05% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its holdings in Apple by 2.0% in the 1st quarter. Crossmark Global Holdings Inc. now owns 276,572 shares of the iPhone maker’s stock valued at $70,330,000 after purchasing an additional 5,487 shares during the last quarter. Keeler Thomas Management LLC boosted its position in shares of Apple by 6.3% during the second quarter. Keeler Thomas Management LLC now owns 30,863 shares of the iPhone maker’s stock worth $11,258,000 after buying an additional 1,833 shares during the period. McGowan Group Asset Management Inc. grew its stake in shares of Apple by 2.7% in the first quarter. McGowan Group Asset Management Inc. now owns 5,371 shares of the iPhone maker’s stock valued at $1,366,000 after buying an additional 140 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of Apple in the first quarter valued at $621,000. Finally, Corient Capital Partners LLC raised its holdings in shares of Apple by 12.0% in the 1st quarter. Corient Capital Partners LLC now owns 67,463 shares of the iPhone maker’s stock valued at $17,155,000 after buying an additional 7,217 shares during the period. Hedge funds and other institutional investors own 61.96% of the company’s stock.
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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