Apple (NASDAQ:AAPL) had its target price boosted by equities researchers at Monness Crespi & Hardt from $370.00 to $470.00 in a research note issued on Friday, Briefing.com Automated Import reports. The firm currently has a “buy” rating on the iPhone maker’s stock. Monness Crespi & Hardt’s price objective points to a potential upside of 10.58% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Wells Fargo & Co restated a “buy” rating on shares of Apple in a research note on Thursday. DZ Bank reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, June 3rd. Tigress Financial reiterated a “buy” rating on shares of Apple in a research note on Tuesday, April 14th. Wolfe Research began coverage on shares of Apple in a research report on Friday, July 24th. They issued an “underperform” rating and a $315.00 target price for the company. Finally, Loop Capital increased their price target on shares of Apple from $280.00 to $330.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirty-one have given a buy rating to the company’s stock. Apple has an average rating of “Buy” and a consensus target price of $370.23.
Shares of Apple stock opened at $425.04 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50. The firm has a 50-day moving average of $367.96 and a 200-day moving average of $313.71. Apple has a 52-week low of $192.58 and a 52-week high of $425.66. The stock has a market cap of $1,842.27 billion, a PE ratio of 32.32, a PEG ratio of 3.13 and a beta of 1.18.
Apple’s stock is scheduled to split on the morning of Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly created shares will be distributed 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 (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $59.69 billion during the quarter, compared to the consensus estimate of $51.94 billion. Equities research analysts predict that Apple will post 12.43 earnings per share for the current fiscal year.
In related news, insider Chris Kondo sold 4,491 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the sale, the insider now owns 7,370 shares in the company, valued at approximately $2,252,419.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of AAPL. HM Capital Management LLC increased its stake in shares of Apple by 0.9% in the 2nd quarter. HM Capital Management LLC now owns 3,314 shares of the iPhone maker’s stock valued at $1,209,000 after acquiring an additional 28 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its stake in Apple by 2.1% during the second quarter. Hummer Financial Advisory Services Inc now owns 1,467 shares of the iPhone maker’s stock worth $535,000 after acquiring an additional 30 shares in the last quarter. Defender Capital LLC. grew its holdings in Apple by 1.3% in the second quarter. Defender Capital LLC. now owns 2,396 shares of the iPhone maker’s stock worth $874,000 after purchasing an additional 31 shares during the period. Pathway Financial Advisors LLC increased its stake in Apple by 0.7% in the second quarter. Pathway Financial Advisors LLC now owns 4,702 shares of the iPhone maker’s stock valued at $1,715,000 after purchasing an additional 31 shares in the last quarter. Finally, Malaga Cove Capital LLC raised its holdings in shares of Apple by 1.1% during the second quarter. Malaga Cove Capital LLC now owns 2,747 shares of the iPhone maker’s stock valued at $1,002,000 after purchasing an additional 31 shares during the period. 61.96% of the stock is currently owned by hedge funds and other 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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