Apple (NASDAQ:AAPL – Get Rating) received a $200.00 price target from JPMorgan Chase & Co. in a report released on Monday, Borsen Zeitung reports. JPMorgan Chase & Co.’s price target suggests a potential upside of 49.72% from the stock’s current price.
A number of other research analysts have also issued reports on the company. Loop Capital dropped their target price on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Tigress Financial boosted their target price on Apple from $198.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 15th. Deutsche Bank Aktiengesellschaft dropped their target price on Apple from $210.00 to $200.00 in a report on Friday, April 29th. The Goldman Sachs Group set a $157.00 target price on Apple in a report on Friday, June 3rd. Finally, Deutsche Bank Rese… set a $210.00 price objective on Apple in a report on Friday, April 8th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $187.61.
Shares of Apple stock traded down $3.55 on Monday, reaching $133.58. 3,142,170 shares of the company were exchanged, compared to its average volume of 94,641,555. Apple has a 1-year low of $127.07 and a 1-year high of $182.94. The company has a market cap of $2.16 trillion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The stock’s 50 day moving average price is $155.24 and its 200-day moving average price is $164.39.
Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.09. The firm had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, research analysts predict that Apple will post 6.11 earnings per share for the current fiscal year.
Apple announced that its board has initiated a share repurchase plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 105,901 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $177.75, for a total value of $18,823,902.75. Following the sale, the chief operating officer now owns 489,662 shares of the company’s stock, valued at approximately $87,037,420.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,099 shares of company stock valued at $29,376,711. Insiders own 0.06% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP bought a new stake in shares of Apple in the 3rd quarter worth approximately $29,000. Joseph Group Capital Management bought a new stake in shares of Apple in the 4th quarter worth approximately $1,631,000. Cardinal Capital Management Inc. lifted its holdings in shares of Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $41,000. Finally, St. James Investment Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $57,000. 57.98% of the stock is currently owned by institutional investors.
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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