Apple (NASDAQ:AAPL) PT Raised to $420.00

Apple (NASDAQ:AAPL) had its target price hoisted by analysts at Oppenheimer from $320.00 to $420.00 in a research report issued to clients and investors on Friday, Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the iPhone maker’s stock. Oppenheimer’s target price would indicate a potential downside of 1.19% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Apple from a “strong-buy” rating to a “buy” rating in a report on Friday, July 24th. DZ Bank restated a “buy” rating on shares of Apple in a research note on Wednesday, June 3rd. Sanford C. Bernstein upped their price target on Apple from $370.00 to $400.00 and gave the company a “market perform” rating in a report on Friday. DA Davidson lifted their price objective on Apple from $355.00 to $480.00 and gave the stock a “buy” rating in a report on Friday. Finally, Nomura Instinet upped their target price on Apple from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $370.23.

Shares of NASDAQ:AAPL opened at $425.04 on Friday. 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. The business has a 50 day moving average price of $367.96 and a 200 day moving average price of $313.71. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.14. Apple has a twelve month low of $192.58 and a twelve month high of $425.66.

Apple shares are going to split before the market opens on Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly issued shares will be distributed 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 (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.55. The business had revenue of $59.69 billion for the quarter, compared to the consensus estimate of $51.94 billion. Apple had a net margin of 21.33% and a return on equity of 67.82%. Analysts anticipate that Apple will post 12.43 EPS for the current year.

In other news, insider Chris Kondo sold 4,491 shares of the stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AAPL. Advisor Group Holdings Inc. bought a new stake in shares of Apple in the first quarter valued at about $536,884,000. Geode Capital Management LLC raised its position in Apple by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 64,178,586 shares of the iPhone maker’s stock valued at $16,290,282,000 after buying an additional 1,696,496 shares during the last quarter. Wellington Management Group LLP raised its position in Apple by 18.2% in the 1st quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock valued at $6,850,960,000 after buying an additional 4,148,565 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Apple by 5.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,839,686 shares of the iPhone maker’s stock valued at $5,045,034,000 after acquiring an additional 1,100,533 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position 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 worth $4,870,830,000 after acquiring an additional 1,957,257 shares during the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

About Apple

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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