Apple (NASDAQ:AAPL) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
Other equities research analysts have also issued research reports about the company. BTIG Research upgraded Apple to a “buy” rating and raised their price objective for the company from $207.00 to $235.00 in a research note on Wednesday, August 1st. Macquarie set a $214.00 target price on Apple and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Morgan Stanley reiterated a “buy” rating and issued a $232.00 target price on shares of Apple in a research report on Wednesday, August 22nd. HSBC set a $205.00 target price on Apple and gave the stock a “buy” rating in a research report on Thursday. Finally, Tigress Financial reiterated a “buy” rating on shares of Apple in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $220.52.
Shares of NASDAQ:AAPL opened at $225.03 on Friday. The stock has a market cap of $1,079.86 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.71 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. Apple has a one year low of $149.16 and a one year high of $228.26.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating the consensus estimate of $2.18 by $0.16. The business had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. equities analysts forecast that Apple will post 11.68 earnings per share for the current year.
In other Apple news, Director Arthur D. Levinson sold 20,000 shares of Apple stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total transaction of $4,131,600.00. Following the sale, the director now owns 1,153,283 shares of the company’s stock, valued at approximately $238,245,202.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela J. Ahrendts sold 6,568 shares of Apple stock in a transaction on Friday, June 15th. The shares were sold at an average price of $188.81, for a total value of $1,240,104.08. Following the sale, the insider now directly owns 79,476 shares in the company, valued at approximately $15,005,863.56. The disclosure for this sale can be found here. In the last three months, insiders sold 400,621 shares of company stock worth $85,281,642. Company insiders own 0.08% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AAPL. Fort L.P. bought a new stake in shares of Apple in the 2nd quarter worth $119,000. Delphi Private Advisors LLC bought a new stake in shares of Apple in the 2nd quarter worth $120,000. Cranbrook Wealth Management LLC raised its stake in shares of Apple by 76.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock worth $129,000 after buying an additional 302 shares in the last quarter. Brand Asset Management Group Inc. bought a new stake in shares of Apple in the 2nd quarter worth $134,000. Finally, Quattro Financial Advisors LLC bought a new stake in shares of Apple in the 1st quarter worth $133,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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