Apple (NASDAQ:AAPL - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at KeyCorp in a research note issued to investors on Wednesday, Stock Target Advisor reports. They currently have a $247.61 price target on the iPhone maker's stock. KeyCorp's price objective would indicate a potential upside of 9.32% from the stock's current price.
Several other brokerages also recently weighed in on AAPL. Oppenheimer increased their target price on shares of Apple from $200.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, June 28th. Robert W. Baird boosted their target price on Apple from $200.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Rosenblatt Securities increased their price target on Apple from $260.00 to $261.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Monness Crespi & Hardt upped their price objective on shares of Apple from $205.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, Wedbush lifted their target price on shares of Apple from $275.00 to $285.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $237.30.
Read Our Latest Analysis on Apple
Apple Stock Down 0.7 %
NASDAQ:AAPL traded down $1.54 during mid-day trading on Wednesday, hitting $226.49. The stock had a trading volume of 37,957,771 shares, compared to its average volume of 61,806,531. The company has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a PEG ratio of 2.60 and a beta of 1.24. The stock has a 50-day simple moving average of $220.80 and a two-hundred day simple moving average of $195.02. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple has a twelve month low of $164.07 and a twelve month high of $237.23.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business's revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Apple will post 6.61 EPS for the current year.
Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Insider Transactions at Apple
In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 191,543 shares of the company's stock, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 75,000 shares of the business's stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company's stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,884 shares of company stock valued at $38,092,387. 0.06% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Apple
A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. Vanguard Group Inc. boosted its stake in Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker's stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Norges Bank purchased a new position in Apple in the 4th quarter worth about $33,912,466,000. Wellington Management Group LLP raised its position in Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker's stock valued at $11,677,190,000 after buying an additional 2,096,360 shares during the period. Fisher Asset Management LLC grew its position in Apple by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker's stock valued at $10,531,834,000 after purchasing an additional 1,067,587 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker's stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.
Apple Company Profile
(
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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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