Apple (NASDAQ:AAPL) had its price objective boosted by research analysts at Needham & Company LLC to $250.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “strong-buy” rating on the iPhone maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 15.37% from the stock’s previous close.
AAPL has been the subject of a number of other reports. BidaskClub upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Barclays upped their price target on shares of Apple from $192.00 to $207.00 and gave the company an “average” rating in a research note on Wednesday. Cascend Securities restated a “buy” rating and set a $240.00 price target (up previously from $210.00) on shares of Apple in a research note on Thursday, June 20th. Nomura raised their price target on shares of Apple from $180.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Credit Suisse Group set a $209.00 price objective on shares of Apple and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $218.35.
Shares of NASDAQ:AAPL opened at $216.70 on Wednesday. The business’s 50-day moving average is $206.88 and its 200 day moving average is $196.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. Apple has a 1 year low of $142.00 and a 1 year high of $233.47. The firm has a market capitalization of $967.87 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.77 and a beta of 1.24.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the 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 business had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter last year, the company earned $2.34 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect that Apple will post 11.68 EPS for the current year.
In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the transaction, the director now owns 1,150,783 shares in the company, valued at $232,101,423.27. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 304,536 shares of company stock worth $62,894,611. Insiders own 0.05% of the company’s stock.
Several large investors have recently bought and sold shares of AAPL. Centaurus Financial Inc. increased its holdings in Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after acquiring an additional 1,262 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new position in Apple during the fourth quarter valued at $50,000. Avondale Wealth Management lifted its holdings in Apple by 25.4% during the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after purchasing an additional 64 shares in the last quarter. NuWave Investment Management LLC grew its position in shares of Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares during the period. Finally, Horan Securities Inc. grew its position in shares of Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 58.77% 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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