Apple (NASDAQ:AAPL) Given a $200.00 Price Target by JPMorgan Chase & Co. Analysts

JPMorgan Chase & Co. set a $200.00 target price on Apple (NASDAQ:AAPLGet Rating) in a research report released on Monday, Borsen Zeitung reports.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group set a $157.00 target price on shares of Apple in a research note on Friday, June 3rd. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a research note on Monday, May 2nd. StockNews.com started coverage on shares of Apple in a research note on Thursday, March 31st. They issued a hold rating for the company. Fundamental Research reduced their target price on shares of Apple from $179.32 to $175.24 and set an average rating for the company in a research note on Friday, May 6th. Finally, Evercore ISI assumed coverage on shares of Apple in a research note on Friday, March 25th. They issued a buy rating and a $210.00 target price for the company. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $186.55.

Shares of NASDAQ:AAPL opened at $131.56 on Monday. The stock has a market capitalization of $2.13 trillion, a PE ratio of 21.36, a P/E/G ratio of 1.72 and a beta of 1.20. Apple has a 1 year low of $129.04 and a 1 year high of $182.94. The firm has a fifty day moving average price of $150.44 and a 200 day moving average price of $163.13. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Apple will post 6.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Monday, May 9th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 6th. This is a boost from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 0.70%. Apple’s dividend payout ratio (DPR) is presently 14.94%.

Apple declared that its Board of Directors has authorized a share repurchase program on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, COO Jeffrey E. Williams sold 105,901 shares of Apple stock in a transaction on Monday, April 4th. The shares were sold at an average price of $177.75, for a total transaction of $18,823,902.75. Following the transaction, the chief operating officer now directly owns 489,662 shares of the company’s stock, valued at $87,037,420.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 29,198 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at $24,228,273.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,099 shares of company stock worth $29,376,711. Insiders own 0.06% of the company’s stock.

Several large investors have recently modified their holdings of AAPL. Dark Forest Capital Management LP acquired a new stake in Apple in the 3rd quarter valued at $29,000. Joseph Group Capital Management acquired a new stake in Apple in the 4th quarter valued at $1,631,000. Cardinal Capital Management Inc. increased its stake in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new stake in Apple in the 4th quarter valued at $41,000. Finally, St. James Investment Advisors LLC acquired a new stake in Apple in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 57.98% of the company’s stock.

About Apple (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Featured Articles

Analyst Recommendations for Apple (NASDAQ:AAPL)

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.