Tigress Financial Increases Apple (NASDAQ:AAPL) Price Target to $198.00

Apple (NASDAQ:AAPL) had its target price lifted by Tigress Financial from $182.00 to $198.00 in a research note published on Wednesday morning, The Fly reports. Tigress Financial currently has a strong-buy rating on the iPhone maker’s stock.

Several other brokerages also recently issued reports on AAPL. UBS Group set a $175.00 price objective on shares of Apple in a research report on Monday, September 13th. DA Davidson boosted their price target on Apple from $167.00 to $175.00 and gave the company a buy rating in a report on Wednesday, July 28th. Needham & Company LLC initiated coverage on Apple in a report on Wednesday, July 28th. They set a buy rating and a $170.00 price objective for the company. Robert W. Baird upgraded Apple to an outperform rating and boosted their target price for the company from $160.00 to $170.00 in a research note on Wednesday, September 8th. Finally, Loop Capital lifted their price objective on shares of Apple from $150.00 to $165.00 and gave the company a buy rating in a report on Wednesday, July 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $164.55.

Shares of NASDAQ AAPL opened at $146.92 on Wednesday. The company’s 50 day simple moving average is $148.37 and its 200 day simple moving average is $136.39. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.06 and a quick ratio of 1.01. Apple has a fifty-two week low of $107.32 and a fifty-two week high of $157.26. The firm has a market capitalization of $2.43 trillion, a P/E ratio of 28.75, a P/E/G ratio of 2.10 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.29. Apple had a return on equity of 131.01% and a net margin of 25.00%. The firm had revenue of $81.40 billion for the quarter, compared to analysts’ expectations of $73.48 billion. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue was up 36.4% compared to the same quarter last year. Sell-side analysts expect that Apple will post 5.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Monday, August 9th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 6th. This represents a $0.88 annualized dividend and a dividend yield of 0.60%. Apple’s dividend payout ratio is 26.83%.

In related news, SVP Katherine L. Adams sold 17,000 shares of the firm’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $145.89, for a total transaction of $2,480,130.00. Following the completion of the sale, the senior vice president now owns 324,164 shares in the company, valued at $47,292,285.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 2,386,440 shares of the stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $148.58, for a total transaction of $354,577,255.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,418,317 shares of company stock worth $359,229,278. 0.06% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Apple by 2.1% in the second quarter. Vanguard Group Inc. now owns 1,264,936,543 shares of the iPhone maker’s stock valued at $173,245,709,000 after acquiring an additional 25,553,808 shares during the period. FMR LLC lifted its stake in Apple by 1.6% in the 2nd quarter. FMR LLC now owns 350,462,986 shares of the iPhone maker’s stock worth $47,999,410,000 after purchasing an additional 5,510,838 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Apple by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 254,162,496 shares of the iPhone maker’s stock valued at $34,705,731,000 after purchasing an additional 4,356,200 shares during the period. Morgan Stanley increased its holdings in shares of Apple by 2.8% in the second quarter. Morgan Stanley now owns 125,859,709 shares of the iPhone maker’s stock worth $17,237,745,000 after purchasing an additional 3,472,624 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Apple by 3.6% in the second quarter. Legal & General Group Plc now owns 103,466,388 shares of the iPhone maker’s stock worth $14,170,746,000 after buying an additional 3,613,141 shares in the last quarter. Institutional investors and hedge funds own 56.38% of the company’s stock.

Apple Company Profile

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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