Apple (NASDAQ:AAPL) had its price objective increased by DA Davidson from $355.00 to $480.00 in a research note issued to investors on Friday morning, The Fly reports. The firm currently has a buy rating on the iPhone maker’s stock.
A number of other analysts have also recently weighed in on AAPL. Cascend Securities increased their target price on shares of Apple from $325.00 to $360.00 and gave the stock a buy rating in a report on Tuesday, July 7th. Needham & Company LLC raised their target price on shares of Apple from $350.00 to $450.00 and gave the stock a buy rating in a report on Wednesday, July 15th. Daiwa Capital Markets lifted their target price on Apple from $297.00 to $320.00 and gave the company an outperform rating in a research note on Wednesday, May 6th. Robert W. Baird increased their price target on Apple from $320.00 to $390.00 and gave the stock an outperform rating in a research report on Tuesday, June 23rd. Finally, Citigroup reissued a buy rating and issued a $450.00 price target (up previously from $400.00) on shares of Apple in a report on Friday. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirty-one have issued a buy rating to the company. Apple has a consensus rating of Buy and a consensus price target of $370.23.
NASDAQ:AAPL traded up $40.28 during mid-day trading on Friday, reaching $425.04. The stock had a trading volume of 93,573,867 shares, compared to its average volume of 30,266,534. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46. The company has a market capitalization of $1,842.26 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18. Apple has a 1-year low of $192.58 and a 1-year high of $425.66. The stock’s 50 day simple moving average is $367.96 and its two-hundred day simple moving average is $313.71.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.55. The business had revenue of $59.69 billion during the quarter, compared to the consensus estimate of $51.94 billion. Apple had a return on equity of 67.82% and a net margin of 21.33%. Sell-side analysts anticipate that Apple will post 12.35 EPS for the current fiscal year.
In other news, insider Chris Kondo sold 4,491 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $305.62, for a total value of $1,372,539.42. Following the transaction, the insider now owns 7,370 shares in the company, valued at approximately $2,252,419.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.05% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stralem & Co. Inc. purchased a new stake in shares of Apple during the 1st quarter worth about $39,000. Sycomore Asset Management acquired a new position in Apple in the first quarter worth approximately $50,000. Heard Capital LLC acquired a new stake in Apple in the first quarter valued at approximately $51,000. Contravisory Investment Management Inc. lifted its holdings in Apple by 35.6% in the 1st quarter. Contravisory Investment Management Inc. now owns 484 shares of the iPhone maker’s stock worth $123,000 after purchasing an additional 127 shares during the last quarter. Finally, Pinz Capital Management LP boosted its holdings in Apple by 150.0% during the first quarter. Pinz Capital Management LP now owns 500 shares of the iPhone maker’s stock valued at $127,000 after acquiring an additional 300 shares during the period. 61.96% of the stock is owned by hedge funds and other institutional investors.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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