Apple (NASDAQ:AAPL - Get Free Report) had its price objective raised by research analysts at Morgan Stanley from $220.00 to $235.00 in a report released on Monday. The firm currently has an "overweight" rating on the iPhone maker's stock. Morgan Stanley's target price would suggest a potential upside of 12.52% from the company's previous close.
AAPL has been the topic of several other reports. Redburn Partners set a $230.00 price target on Apple in a research report on Friday, January 31st. Moffett Nathanson reaffirmed a "sell" rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Citigroup decreased their price target on shares of Apple from $275.00 to $245.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Sanford C. Bernstein boosted their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Finally, China Renaissance began coverage on shares of Apple in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $234.31.
Read Our Latest Stock Analysis on AAPL
Apple Stock Down 0.2 %
AAPL traded down $0.43 on Monday, reaching $208.85. 8,406,742 shares of the company traded hands, compared to its average volume of 56,624,163. Apple has a 52-week low of $169.11 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company has a market cap of $3.14 trillion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.44 and a beta of 1.26. The stock's 50 day moving average price is $215.71 and its 200-day moving average price is $229.31.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts expect that Apple will post 7.28 EPS for the current fiscal year.
Insider Activity
In other Apple news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,021 shares of company stock valued at $41,760,140. Insiders own 0.06% of the company's stock.
Hedge Funds Weigh In On Apple
A number of large investors have recently modified their holdings of AAPL. Drystone LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $25,000. Conquis Financial LLC purchased a new stake in Apple in the 4th quarter valued at $63,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter valued at $65,000. SPX Gestao de Recursos Ltda bought a new position in Apple during the 3rd quarter valued at $71,000. Finally, Pillar Financial Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth $82,000. 67.73% of the stock is currently owned by institutional investors.
About Apple
(
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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