Other equities research analysts have also issued research reports about the stock. BTIG Research raised shares of Apple to a buy rating and upped their target price for the stock from $207.00 to $235.00 in a report on Wednesday, August 1st. Macquarie set a $214.00 target price on shares of Apple and gave the stock a buy rating in a report on Wednesday, August 15th. Morgan Stanley reaffirmed a buy rating and set a $232.00 target price on shares of Apple in a report on Wednesday, August 22nd. S&P Equity Research upped their target price on shares of Apple to $250.00 and gave the stock an in-line rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group began coverage on shares of Apple in a report on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirty have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $221.63.
NASDAQ:AAPL opened at $222.11 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,109.54 billion, a PE ratio of 24.12, a PEG ratio of 1.99 and a beta of 1.36. Apple has a 1-year low of $150.24 and a 1-year high of $233.47.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS. Analysts expect that Apple will post 11.76 earnings per share for the current fiscal year.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the sale, the senior vice president now owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 61,998 shares of the stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.33, for a total transaction of $14,403,995.34. Following the sale, the chief operating officer now directly owns 124,695 shares in the company, valued at approximately $28,970,389.35. The disclosure for this sale can be found here. Insiders sold 564,185 shares of company stock worth $124,444,213 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Gibraltar Capital Management Inc. increased its stake in shares of Apple by 0.4% during the third quarter. Gibraltar Capital Management Inc. now owns 59,517 shares of the iPhone maker’s stock worth $13,435,000 after buying an additional 235 shares during the period. PICTET BANK & TRUST Ltd increased its stake in Apple by 0.5% in the second quarter. PICTET BANK & TRUST Ltd now owns 45,134 shares of the iPhone maker’s stock valued at $8,355,000 after purchasing an additional 240 shares during the last quarter. Capital Investment Services of America Inc. increased its stake in Apple by 10.0% in the third quarter. Capital Investment Services of America Inc. now owns 2,703 shares of the iPhone maker’s stock valued at $610,000 after purchasing an additional 245 shares during the last quarter. Somerset Group LLC increased its stake in Apple by 2.4% in the second quarter. Somerset Group LLC now owns 10,683 shares of the iPhone maker’s stock valued at $1,978,000 after purchasing an additional 249 shares during the last quarter. Finally, Wsfs Capital Management LLC increased its stake in Apple by 2.0% in the second quarter. Wsfs Capital Management LLC now owns 13,051 shares of the iPhone maker’s stock valued at $2,416,000 after purchasing an additional 260 shares during the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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