Apple (NASDAQ:AAPL) Price Target Raised to $200.00 at Piper Sandler

Apple (NASDAQ:AAPL) had its price objective lifted by research analysts at Piper Sandler from $175.00 to $200.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has an “overweight” rating on the iPhone maker’s stock. Piper Sandler’s price objective indicates a potential upside of 16.15% from the stock’s previous close.

AAPL has been the subject of several other reports. DA Davidson boosted their price objective on shares of Apple from $167.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, October 19th. Credit Suisse Group assumed coverage on shares of Apple in a research report on Friday, October 29th. They set a “neutral” rating and a $150.00 target price for the company. Oppenheimer increased their target price on shares of Apple from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. JPMorgan Chase & Co. set a $210.00 target price on shares of Apple and gave the stock an “overweight” rating in a research report on Tuesday, December 14th. Finally, Robert W. Baird reissued a “buy” rating and set a $169.00 target price on shares of Apple in a research report on Friday, October 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $176.74.

AAPL stock opened at $172.19 on Friday. The company has a market cap of $2.81 trillion, a P/E ratio of 30.64, a P/E/G ratio of 2.41 and a beta of 1.20. Apple has a 52 week low of $116.21 and a 52 week high of $182.94. The company’s 50-day moving average price is $167.40 and its 200 day moving average price is $153.84. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.73.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 27th. The iPhone maker reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. The company had revenue of $83.40 billion for the quarter, compared to the consensus estimate of $84.94 billion. Apple had a net margin of 25.88% and a return on equity of 144.13%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 earnings per share. On average, equities research analysts expect that Apple will post 5.82 earnings per share for the current year.

In other news, CFO Luca Maestri sold 165,829 shares of the business’s stock in a transaction on Tuesday, October 19th. The shares were sold at an average price of $148.62, for a total value of $24,645,505.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 18,247 shares of the business’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $146.35, for a total transaction of $2,670,448.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,081 shares of company stock valued at $32,383,704. 0.06% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in AAPL. OLD Mission Capital LLC acquired a new position in Apple during the 3rd quarter worth about $1,238,000. Meitav Dash Investments Ltd. lifted its position in Apple by 68.6% during the 2nd quarter. Meitav Dash Investments Ltd. now owns 583,160 shares of the iPhone maker’s stock valued at $79,861,000 after purchasing an additional 237,361 shares during the period. Ibex Investors LLC acquired a new position in Apple during the 2nd quarter valued at about $1,808,000. Bigelow Investment Advisors LLC lifted its position in Apple by 0.9% during the 2nd quarter. Bigelow Investment Advisors LLC now owns 41,866 shares of the iPhone maker’s stock valued at $5,734,000 after purchasing an additional 381 shares during the period. Finally, Fairhaven Wealth Management LLC lifted its position in Apple by 0.8% during the 2nd quarter. Fairhaven Wealth Management LLC now owns 67,406 shares of the iPhone maker’s stock valued at $9,232,000 after purchasing an additional 559 shares during the period. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

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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