Apple (NASDAQ:AAPL – Get Rating) received a $200.00 target price from JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, Borsen Zeitung reports. JPMorgan Chase & Co.‘s price objective points to a potential upside of 39.87% from the stock’s previous close.
A number of other brokerages have also commented on AAPL. Monness Crespi & Hardt began coverage on Apple in a research report on Thursday, September 8th. They set a “buy” rating and a $174.00 price objective for the company. Citigroup lifted their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a report on Monday, August 1st. Evercore ISI boosted their target price on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 20th. Finally, StockNews.com assumed coverage on Apple in a report on Wednesday. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.35.
Apple Trading Up 3.4 %
Shares of AAPL opened at $142.99 on Wednesday. The business’s 50-day moving average price is $156.70 and its 200 day moving average price is $153.91. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 23.60, a P/E/G ratio of 1.73 and a beta of 1.25. Apple has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the business posted $1.30 EPS. Apple’s revenue was up 1.9% on a year-over-year basis. Analysts expect that Apple will post 6.11 earnings per share for the current year.
Insider Transactions at Apple
In related news, SVP Deirdre O’brien sold 176,299 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 176,299 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 298,034 shares of company stock valued at $46,105,704. 0.06% of the stock is currently owned by company insiders.
Institutional Trading of Apple
Institutional investors and hedge funds have recently bought and sold shares of the stock. Elk River Wealth Management LLC lifted its holdings in shares of Apple by 49.0% during the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after purchasing an additional 54,989 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Apple by 8.3% during the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock valued at $13,029,000 after acquiring an additional 5,703 shares in the last quarter. Piscataqua Savings Bank grew its position in Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Apple in the 1st quarter worth approximately $171,000. Finally, Chico Wealth RIA bought a new stake in Apple in the 1st quarter worth approximately $7,794,000. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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