Apple (NASDAQ:AAPL) had its price objective increased by investment analysts at Piper Jaffray Companies to $250.00 in a research report issued on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the iPhone maker’s stock. Piper Jaffray Companies’ price target points to a potential upside of 12.06% from the stock’s current price.
AAPL has been the topic of several other reports. BidaskClub lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Wells Fargo & Co reissued a “neutral” rating and issued a $210.00 price objective on shares of Apple in a research report on Friday, August 10th. Morgan Stanley increased their price objective on shares of Apple from $214.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, July 24th. BMO Capital Markets increased their price objective on shares of Apple from $171.00 to $184.00 and gave the company a “market perform” rating in a research report on Monday, July 23rd. Finally, Royal Bank of Canada increased their price objective on shares of Apple to $240.00 and gave the company an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $225.97.
NASDAQ AAPL opened at $223.10 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31. Apple has a 1 year low of $149.16 and a 1 year high of $229.67. The firm has a market cap of $1,115.10 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.76 and a beta of 1.33.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The firm had revenue of $53.27 billion for the quarter, compared to analyst estimates of $52.43 billion. During the same period in the prior year, the firm posted $1.67 earnings per share. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. equities research analysts anticipate that Apple will post 11.68 EPS for the current year.
In related news, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela J. Ahrendts sold 6,568 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $188.81, for a total transaction of $1,240,104.08. Following the completion of the transaction, the insider now owns 79,476 shares in the company, valued at $15,005,863.56. The disclosure for this sale can be found here. Insiders sold 384,968 shares of company stock worth $82,292,858 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in AAPL. Iron Financial LLC lifted its holdings in shares of Apple by 4.1% in the fourth quarter. Iron Financial LLC now owns 21,161 shares of the iPhone maker’s stock worth $3,581,000 after acquiring an additional 837 shares during the last quarter. Schmidt P J Investment Management Inc. lifted its holdings in shares of Apple by 0.8% in the fourth quarter. Schmidt P J Investment Management Inc. now owns 56,306 shares of the iPhone maker’s stock worth $9,529,000 after acquiring an additional 430 shares during the last quarter. Ballew Advisors Inc bought a new position in shares of Apple in the fourth quarter worth about $395,000. DT Investment Partners LLC lifted its holdings in shares of Apple by 12.2% in the fourth quarter. DT Investment Partners LLC now owns 4,218 shares of the iPhone maker’s stock worth $714,000 after acquiring an additional 459 shares during the last quarter. Finally, Wright Investors Service Inc. lifted its holdings in shares of Apple by 8.0% in the fourth quarter. Wright Investors Service Inc. now owns 65,734 shares of the iPhone maker’s stock worth $11,124,000 after acquiring an additional 4,882 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.
Apple Company Profile
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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