Apple (NASDAQ:AAPL) Price Target Increased to $236.00 by Analysts at UBS Group

Apple (NASDAQ:AAPL - Free Report) had its price objective raised by UBS Group from $190.00 to $236.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the iPhone maker's stock.

AAPL has been the topic of a number of other research reports. Moffett Nathanson began coverage on Apple in a research note on Monday, August 19th. They set a neutral rating and a $211.00 price target on the stock. Bank of America reaffirmed a buy rating and issued a $256.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Rosenblatt Securities lifted their target price on shares of Apple from $260.00 to $261.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a buy rating and set a $260.00 price objective on shares of Apple in a research report on Monday, August 5th. Finally, DA Davidson raised Apple from a neutral rating to a buy rating and increased their price target for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $238.62.

Apple Trading Down 0.9 %

AAPL stock traded down $1.92 during midday trading on Wednesday, hitting $220.85. 43,780,799 shares of the company's stock were exchanged, compared to its average volume of 61,523,160. The business has a 50-day simple moving average of $222.57 and a two-hundred day simple moving average of $196.53. Apple has a 1-year low of $164.07 and a 1-year high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $3.39 trillion, a PE ratio of 34.07, a P/E/G ratio of 2.69 and a beta of 1.24.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Apple will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple's dividend payout ratio is presently 15.55%.

Insider Buying and Selling

In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company's stock, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company's stock, valued at approximately $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 over the last 90 days. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc bought a new position in shares of Apple in the first quarter worth $35,000. Fidelis Capital Partners LLC lifted its stake in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker's stock valued at $35,000 after acquiring an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the 4th quarter valued at $39,000. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter worth approximately $42,000. Finally, University of Texas Texas AM Investment Managment Co. lifted its position in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker's stock worth $82,000 after purchasing an additional 368 shares during the period. 60.41% of the stock is owned by institutional investors.

About Apple

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.