Apple (NASDAQ:AAPL) had its price target cut by Goldman Sachs Group from $187.00 to $165.00 in a research report released on Friday, BenzingaRatingsTable reports. They currently have a neutral rating on the iPhone maker’s stock.
A number of other brokerages also recently commented on AAPL. Loop Capital boosted their price objective on shares of Apple to $200.00 and gave the stock a hold rating in a research note on Wednesday, July 31st. Deutsche Bank set a $210.00 price objective on shares of Apple and gave the stock a hold rating in a research note on Wednesday, September 4th. Morgan Stanley set a $247.00 price objective on shares of Apple and gave the stock a buy rating in a research note on Thursday, September 12th. Canaccord Genuity reissued a buy rating and issued a $240.00 price objective (up previously from $202.00) on shares of Apple in a research note on Wednesday, July 31st. Finally, DA Davidson boosted their price objective on shares of Apple to $270.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $217.25.
Shares of NASDAQ:AAPL opened at $219.90 on Friday. The company has a market capitalization of $1,008.16 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.24. Apple has a 52 week low of $142.00 and a 52 week high of $233.47. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $208.04 and a 200 day moving average of $197.38.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. The company had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. Apple’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 earnings per share. On average, sell-side analysts expect that Apple will post 11.68 EPS for the current year.
In other news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. Insiders have sold 304,536 shares of company stock worth $62,894,611 over the last three months. Corporate insiders own 0.05% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Centaurus Financial Inc. boosted its holdings in Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after purchasing an additional 1,262 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in Apple in the fourth quarter valued at $50,000. Avondale Wealth Management boosted its holdings in Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after purchasing an additional 64 shares during the last quarter. NuWave Investment Management LLC boosted its holdings in Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares during the last quarter. Finally, Horan Securities Inc. boosted its holdings in Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the last quarter. 58.63% 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. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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