Apple (NASDAQ:AAPL) had its price target boosted by investment analysts at DA Davidson from $355.00 to $480.00 in a note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the iPhone maker’s stock. DA Davidson’s target price would suggest a potential upside of 12.93% from the stock’s current price.
Several other research analysts have also recently commented on the company. Monness Crespi & Hardt initiated coverage on Apple in a research note on Tuesday, June 23rd. They set a “buy” rating and a $370.00 target price for the company. Credit Suisse Group restated a “neutral” rating and set a $340.00 target price (up from $295.00) on shares of Apple in a research note on Wednesday. Oppenheimer reiterated a “buy” rating and issued a $320.00 price target on shares of Apple in a research note on Tuesday, June 23rd. UBS Group increased their price objective on shares of Apple from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. set a $460.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirty-one have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $370.23.
Shares of AAPL opened at $425.04 on Friday. The company’s 50-day simple moving average is $367.96 and its 200-day simple moving average is $313.71. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50. Apple has a 1 year low of $192.58 and a 1 year high of $425.66. 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.
Shares of Apple are scheduled to split before the market opens on 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 issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.55. The company had revenue of $59.69 billion during the quarter, compared to analysts’ expectations of $51.94 billion. Apple had a net margin of 21.33% and a return on equity of 67.82%. On average, sell-side analysts predict that Apple will post 12.43 earnings per share for the current year.
In other news, insider Chris Kondo sold 4,491 shares of the business’s stock in a transaction dated 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 owns 7,370 shares of the company’s stock, valued at approximately $2,252,419.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.05% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. HMS Capital Management LLC increased its holdings in Apple by 45.7% in the second quarter. HMS Capital Management LLC now owns 7,625 shares of the iPhone maker’s stock valued at $2,782,000 after buying an additional 2,392 shares during the last quarter. Comerica Bank grew its position in shares of Apple by 1.7% in the 2nd quarter. Comerica Bank now owns 997,364 shares of the iPhone maker’s stock worth $388,065,000 after acquiring an additional 16,802 shares in the last quarter. Oldfather Financial Services LLC increased its holdings in shares of Apple by 0.8% in the 2nd quarter. Oldfather Financial Services LLC now owns 3,794 shares of the iPhone maker’s stock valued at $1,460,000 after acquiring an additional 31 shares during the last quarter. Valmark Advisers Inc. increased its holdings in shares of Apple by 8.7% in the 2nd quarter. Valmark Advisers Inc. now owns 25,870 shares of the iPhone maker’s stock valued at $9,437,000 after acquiring an additional 2,076 shares during the last quarter. Finally, Hotaling Investment Management LLC raised its position in shares of Apple by 2.6% during the 2nd quarter. Hotaling Investment Management LLC now owns 32,930 shares of the iPhone maker’s stock valued at $12,013,000 after acquiring an additional 830 shares in the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.
Apple Company Profile
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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