Apple (NASDAQ:AAPL) has been assigned a $265.00 price objective by equities research analysts at JPMorgan Chase & Co. in a research note issued on Monday, Borsen Zeitung reports. The firm currently has a “buy” rating on the iPhone maker’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.35% from the company’s previous close.
AAPL has been the subject of several other reports. UBS Group set a $235.00 price objective on Apple and gave the stock a “buy” rating in a research note on Monday. DA Davidson upped their price target on Apple to $270.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank set a $210.00 price target on Apple and gave the company a “hold” rating in a research report on Tuesday, September 24th. Jefferies Financial Group upgraded Apple from a “hold” rating to a “buy” rating and upped their price target for the company from $210.00 to $260.00 in a research report on Tuesday, September 24th. Finally, BidaskClub upgraded Apple from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 27th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $223.19.
NASDAQ:AAPL traded down $0.34 during trading hours on Monday, hitting $235.87. 22,560,995 shares of the stock were exchanged, compared to its average volume of 28,932,625. Apple has a 52-week low of $142.00 and a 52-week high of $238.13. The firm’s fifty day moving average price is $216.75 and its 200 day moving average price is $202.65. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The company has a market cap of $1,065.94 billion, a P/E ratio of 19.80, a P/E/G ratio of 2.02 and a beta of 1.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. During the same period in the previous year, the business earned $2.34 EPS. Apple’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts expect that Apple will post 11.68 EPS for the current fiscal year.
In related news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Luca Maestri sold 61,659 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $228.38, for a total value of $14,081,682.42. Following the completion of the transaction, the chief financial officer now owns 85,507 shares of the company’s stock, valued at $19,528,088.66. The disclosure for this sale can be found here. Insiders sold 433,749 shares of company stock valued at $91,773,322 over the last quarter. 0.05% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Apple by 81.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,115 shares of the iPhone maker’s stock worth $782,000 after purchasing an additional 1,844 shares during the period. Clearbridge Investments LLC increased its holdings in Apple by 4.0% in the 1st quarter. Clearbridge Investments LLC now owns 7,652,260 shares of the iPhone maker’s stock worth $1,453,547,000 after acquiring an additional 295,102 shares during the last quarter. Spectrum Wealth Advisory Group LLC purchased a new stake in Apple in the 1st quarter worth about $1,644,000. Muhlenkamp & Co. Inc. purchased a new stake in Apple in the 1st quarter worth about $11,994,000. Finally, Princeton Global Asset Management LLC increased its holdings in Apple by 13.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 10,457 shares of the iPhone maker’s stock worth $1,986,000 after acquiring an additional 1,250 shares during the last quarter. Institutional investors own 58.65% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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