Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research report issued on Friday, November 15th, Borsen Zeitung reports. They currently have a $290.00 price objective on the iPhone maker’s stock, up from their prior price objective of $280.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.77% from the company’s current price.
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Several other equities research analysts have also recently issued reports on the stock. Piper Jaffray Companies raised their target price on shares of Apple from $243.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Goldman Sachs Group set a $192.00 price target on Apple and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup lifted their target price on shares of Apple from $205.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. DA Davidson raised their price objective on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $244.70.
Apple stock opened at $259.45 on Friday. The stock has a 50-day moving average price of $254.72 and a 200 day moving average price of $216.92. The company has a current ratio of 1.54, a quick ratio of 1.50 and a debt-to-equity ratio of 1.01. The stock has a market cap of $1,152.81 billion, a PE ratio of 21.82, a P/E/G ratio of 1.90 and a beta of 1.24. Apple has a 52 week low of $142.00 and a 52 week high of $268.25.
Apple (NASDAQ:AAPL) last released its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm had revenue of $64.04 billion during the quarter, compared to analysts’ expectations of $62.86 billion. During the same period in the previous year, the company earned $2.91 EPS. Apple’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts predict that Apple will post 13.18 EPS for the current year.
In related news, COO Jeffrey E. Williams sold 67,554 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $219.04, for a total transaction of $14,797,028.16. Following the transaction, the chief operating officer now owns 237,517 shares of the company’s stock, valued at $52,025,723.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 61,659 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $228.38, for a total transaction of $14,081,682.42. Following the completion of the sale, the chief financial officer now directly owns 85,507 shares of the company’s stock, valued at $19,528,088.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,998 shares of company stock worth $42,351,593. Insiders own 0.05% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of Apple by 2.6% in the 2nd quarter. Invesco Ltd. now owns 46,879,136 shares of the iPhone maker’s stock valued at $9,278,319,000 after purchasing an additional 1,203,705 shares during the period. Morgan Stanley boosted its position in shares of Apple by 5.8% in the 2nd quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock worth $7,176,836,000 after purchasing an additional 1,996,126 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Apple by 2,874.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock worth $7,108,275,000 after purchasing an additional 34,707,634 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Apple by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 20,240,790 shares of the iPhone maker’s stock worth $4,006,058,000 after buying an additional 161,912 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Apple by 2.2% during the 3rd quarter. Fisher Asset Management LLC now owns 14,041,509 shares of the iPhone maker’s stock worth $3,144,877,000 after buying an additional 302,917 shares during the period. Institutional investors and hedge funds own 59.19% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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