Apple (NASDAQ:AAPL – Get Rating) has been assigned a $200.00 price target by investment analysts at JPMorgan Chase & Co. in a research note issued on Monday, Borsen Zeitung reports. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 44.72% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Citigroup boosted their target price on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group set a $201.00 target price on shares of Apple in a research note on Thursday, September 8th. Evercore ISI upped their price target on shares of Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 20th. KeyCorp boosted their price objective on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 19th. Finally, Rosenblatt Securities raised Apple from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $160.00 to $189.00 in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.13.
Apple Trading Down 3.0 %
Shares of NASDAQ AAPL opened at $138.20 on Monday. Apple has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a market cap of $2.22 trillion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 1.87 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $159.77 and a 200-day simple moving average of $155.38.
Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 EPS. Sell-side analysts predict that Apple will post 6.1 EPS for the current year.
Insiders Place Their Bets
In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Institutional Investors Weigh In On Apple
A number of large investors have recently modified their holdings of AAPL. Capital Wealth Alliance LLC grew its position in Apple by 1.9% during the 2nd quarter. Capital Wealth Alliance LLC now owns 24,664 shares of the iPhone maker’s stock worth $3,389,000 after purchasing an additional 461 shares during the last quarter. Coston McIsaac & Partners acquired a new stake in shares of Apple in the second quarter valued at about $7,180,000. Inscription Capital LLC increased its holdings in Apple by 154.3% during the 2nd quarter. Inscription Capital LLC now owns 280,053 shares of the iPhone maker’s stock valued at $38,289,000 after acquiring an additional 169,924 shares in the last quarter. Second Half Financial Partners LLC purchased a new position in Apple during the 2nd quarter valued at about $3,613,000. Finally, Prudent Investors Network Inc. increased its holdings in Apple by 18.7% during the 2nd quarter. Prudent Investors Network Inc. now owns 43,406 shares of the iPhone maker’s stock valued at $5,935,000 after acquiring an additional 6,842 shares in the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.
About Apple
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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