Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research note issued on Thursday, 24/7 WallStreet reports. They presently have a $335.00 price objective on the iPhone maker’s stock. Wedbush’s price objective would suggest a potential upside of 29.61% from the company’s current price.
Several other equities research analysts also recently commented on AAPL. Piper Jaffray Companies lifted their price objective on Apple from $290.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Raymond James boosted their price target on Apple from $280.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Argus restated a “buy” rating and set a $350.00 price target (up from $300.00) on shares of Apple in a research note on Friday, January 10th. Atlantic Securities downgraded Apple from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $235.00 to $275.00 in a research note on Tuesday, January 14th. Finally, Macquarie downgraded Apple from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have assigned a buy rating to the stock. Apple currently has an average rating of “Buy” and an average target price of $304.29.
Shares of NASDAQ:AAPL traded up $12.94 on Thursday, hitting $258.46. 62,289,747 shares of the company traded hands, compared to its average volume of 76,273,264. Apple has a 52 week low of $170.27 and a 52 week high of $327.85. The company has a quick ratio of 1.56, a current ratio of 1.60 and a debt-to-equity ratio of 1.04. The stock has a 50 day simple moving average of $289.96 and a 200-day simple moving average of $270.14. The company has a market cap of $1,110.76 billion, a PE ratio of 20.42, a PEG ratio of 1.80 and a beta of 1.30.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.45. Apple had a return on equity of 60.19% and a net margin of 21.49%. The firm had revenue of $91.80 billion during the quarter, compared to the consensus estimate of $88.41 billion. During the same period last year, the company earned $4.18 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple will post 13.05 earnings per share for the current year.
In other Apple news, Director Arthur D. Levinson sold 1,429 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.11, for a total value of $434,573.19. Following the transaction, the director now owns 1,134,712 shares of the company’s stock, valued at approximately $345,077,266.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AAPL. Altshuler Shaham Ltd grew its holdings in Apple by 2,180.0% in the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 109 shares during the period. Sage Financial Group Inc. acquired a new stake in Apple in the fourth quarter valued at approximately $36,000. CXI Advisors acquired a new stake in Apple in the fourth quarter valued at approximately $68,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Apple in the fourth quarter valued at approximately $117,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Apple in the fourth quarter valued at approximately $129,000. 60.69% of the stock is currently owned by institutional investors.
Apple Company Profile
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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