Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Sanford C. Bernstein in a research report issued to clients and investors on Monday. They presently have a $190.00 price objective on the iPhone maker’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 4.30% from the company’s current price.
A number of other research firms have also weighed in on AAPL. Bank of America reissued a “buy” rating and issued a $220.00 price objective on shares of Apple in a research report on Friday, March 23rd. Vetr raised shares of Apple from a “hold” rating to a “buy” rating and set a $184.49 price objective on the stock in a research report on Monday, March 5th. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of Apple in a research report on Friday, March 16th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $205.00 target price on shares of Apple in a research report on Friday, March 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $206.89.
Shares of Apple stock opened at $182.17 on Monday. The firm has a market capitalization of $938.29 billion, a P/E ratio of 19.78, a PEG ratio of 1.52 and a beta of 1.29. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. Apple has a fifty-two week low of $142.28 and a fifty-two week high of $194.20.
Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, beating the consensus estimate of $2.69 by $0.04. Apple had a net margin of 21.55% and a return on equity of 39.97%. The business had revenue of $61.14 billion during the quarter, compared to the consensus estimate of $60.94 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The business’s revenue was up 15.6% on a year-over-year basis. sell-side analysts forecast that Apple will post 11.42 EPS for the current year.
Apple declared that its Board of Directors has approved a share buyback program on Tuesday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to buy up to 11.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Apple news, COO Jeffrey E. Williams sold 15,653 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $185.18, for a total transaction of $2,898,622.54. Following the completion of the transaction, the chief operating officer now directly owns 168,181 shares in the company, valued at approximately $31,143,757.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Luca Maestri sold 4,769 shares of the firm’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $189.54, for a total transaction of $903,916.26. Following the transaction, the insider now owns 68,044 shares of the company’s stock, valued at $12,897,059.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,074 shares of company stock valued at $49,607,454. 0.06% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Greenline Partners LLC raised its holdings in Apple by 2.9% in the first quarter. Greenline Partners LLC now owns 65,406 shares of the iPhone maker’s stock valued at $10,974,000 after buying an additional 1,819 shares during the period. Professional Planning raised its holdings in Apple by 4.2% in the first quarter. Professional Planning now owns 34,519 shares of the iPhone maker’s stock valued at $5,792,000 after buying an additional 1,388 shares during the period. Allianz Life Insurance Co of North America purchased a new position in Apple in the first quarter valued at approximately $528,000. Ibex Wealth Advisors purchased a new position in Apple in the first quarter valued at approximately $3,042,000. Finally, Winthrop Partners WNY LLC raised its holdings in Apple by 3.6% in the first quarter. Winthrop Partners WNY LLC now owns 8,222 shares of the iPhone maker’s stock valued at $1,398,000 after buying an additional 282 shares during the period. Hedge funds and other institutional investors own 58.07% of the company’s stock.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.