Apple (NASDAQ:AAPL) has been given a $210.00 price objective by analysts at Needham & Company LLC in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 28.81% from the stock’s previous close.
A number of other research analysts have also issued reports on AAPL. Vetr lowered shares of Apple from a “strong-buy” rating to a “buy” rating and set a $173.47 price target on the stock. in a research note on Friday, October 6th. UBS Group restated a “buy” rating and set a $180.00 price target on shares of Apple in a research note on Monday, October 9th. Drexel Hamilton restated a “buy” rating and set a $208.00 price target on shares of Apple in a research note on Monday, October 9th. Royal Bank of Canada restated an “outperform” rating and set a $180.00 price target on shares of Apple in a research note on Tuesday, October 10th. Finally, Morgan Stanley restated a “buy” rating and set a $199.00 price target on shares of Apple in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $203.17.
Shares of Apple (AAPL) traded down $4.75 during trading on Friday, reaching $163.04. 15,693,376 shares of the company’s stock were exchanged, compared to its average volume of 29,740,000. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. Apple has a twelve month low of $127.78 and a twelve month high of $180.10. The firm has a market cap of $838,820.00, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.36 and a beta of 1.33.
In other news, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $174.68, for a total value of $1,811,082.24. Following the completion of the transaction, the insider now owns 81,560 shares of the company’s stock, valued at $14,246,900.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the completion of the transaction, the insider now directly owns 17,341 shares of the company’s stock, valued at approximately $2,942,594.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,412 shares of company stock valued at $22,115,155. 0.08% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Berkshire Hathaway Inc. raised its holdings in Apple by 0.6% during the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after purchasing an additional 834,854 shares in the last quarter. Capital Research Global Investors raised its holdings in Apple by 15.0% during the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after purchasing an additional 3,845,363 shares in the last quarter. Legal & General Group Plc raised its holdings in Apple by 1.1% during the third quarter. Legal & General Group Plc now owns 26,393,202 shares of the iPhone maker’s stock worth $4,067,559,000 after purchasing an additional 287,027 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Apple by 9.3% during the third quarter. Janus Henderson Group PLC now owns 21,854,159 shares of the iPhone maker’s stock worth $3,367,571,000 after purchasing an additional 1,850,572 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Apple by 3.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 19,262,302 shares of the iPhone maker’s stock worth $3,259,868,000 after purchasing an additional 570,279 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.
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About Apple
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
