Apple (NASDAQ:AAPL – Get Rating) has been assigned a $175.00 price target by stock analysts at Deutsche Bank Rese… in a research report issued on Friday, Borsen Zeitung reports. Deutsche Bank Rese…’s price objective indicates a potential upside of 7.69% from the stock’s current price.
A number of other research firms also recently commented on AAPL. Citigroup raised their price objective on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Loop Capital decreased their price objective on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft dropped their target price on Apple from $200.00 to $175.00 in a report on Tuesday, June 14th. Fundamental Research cut their target price on Apple from $179.32 to $175.24 and set an “average” rating for the company in a research report on Friday, May 6th. Finally, Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.04.
Apple Trading Up 3.3 %
Shares of AAPL opened at $162.51 on Friday. The stock’s 50-day moving average price is $144.31 and its 200 day moving average price is $157.31. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. Apple has a 12-month low of $129.04 and a 12-month high of $182.94. The firm has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. As a group, research analysts predict that Apple will post 6.09 earnings per share for the current year.
Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Insider Transactions at Apple
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.
Institutional Trading of Apple
A number of hedge funds have recently modified their holdings of the company. Cardinal Capital Management Inc. increased its holdings in shares of Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new stake in Apple during the 4th quarter worth approximately $41,000. CFS Investment Advisory Services LLC raised its holdings in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after buying an additional 7,416,445 shares during the period. Spence Asset Management bought a new position in Apple in the second quarter valued at approximately $49,000. Finally, HBC Financial Services PLLC lifted its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares in the last quarter. 57.98% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.