Apple (NASDAQ:AAPL) Stock Rating Reaffirmed by Morgan Stanley

Apple (NASDAQ:AAPLGet Free Report)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $216.00 price objective on the iPhone maker’s stock. Morgan Stanley’s target price points to a potential upside of 11.85% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Wedbush boosted their price target on shares of Apple from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Bank of America restated a “buy” rating and issued a $230.00 price target on shares of Apple in a research note on Wednesday, May 29th. DZ Bank reissued a “hold” rating and issued a $180.00 target price on shares of Apple in a report on Thursday, March 28th. Finally, Barclays increased their target price on Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $207.47.

Get Our Latest Stock Analysis on AAPL

Apple Stock Down 1.9 %

Apple stock opened at $193.12 on Tuesday. Apple has a fifty-two week low of $164.07 and a fifty-two week high of $199.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The firm has a 50 day moving average price of $180.37 and a 200 day moving average price of $183.39. The company has a market capitalization of $2.96 trillion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. Research analysts expect that Apple will post 6.57 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a share buyback program on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders sold a total of 346,270 shares of company stock valued at $60,880,196 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

A number of hedge funds have recently bought and sold shares of AAPL. Conservest Capital Advisors Inc. lifted its holdings in shares of Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after acquiring an additional 55 shares in the last quarter. Flagstone Financial Management increased its stake in Apple by 0.9% during the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 56 shares during the period. High Pines Wealth Management LLC increased its stake in Apple by 0.7% during the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after buying an additional 58 shares during the period. Asset Planning Corporation increased its stake in Apple by 1.0% during the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after buying an additional 59 shares during the period. Finally, Columbus Macro LLC increased its stake in Apple by 0.5% during the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Company Profile

(Get Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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