Apple (NASDAQ:AAPL) Given a $247.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $247.00 target price on Apple (NASDAQ:AAPL) in a research note issued to investors on Wednesday, Borsen Zeitung reports. The brokerage currently has a buy rating on the iPhone maker’s stock.

Several other research analysts also recently weighed in on AAPL. Rosenblatt Securities set a $150.00 target price on shares of Apple and gave the company a sell rating in a research note on Friday, September 13th. Goldman Sachs Group cut their target price on shares of Apple from $187.00 to $165.00 and set a neutral rating for the company in a research note on Friday, September 13th. Sanford C. Bernstein set a $205.00 target price on shares of Apple and gave the company a hold rating in a research note on Tuesday, September 3rd. Nomura boosted their target price on shares of Apple from $180.00 to $185.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Finally, Cascend Securities reissued a buy rating and issued a $240.00 target price (up previously from $210.00) on shares of Apple in a research note on Thursday, June 20th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $218.08.

Shares of AAPL stock opened at $217.73 on Wednesday. The firm has a 50-day moving average price of $208.80 and a 200 day moving average price of $198.30. Apple has a twelve month low of $142.00 and a twelve month high of $233.47. The company has a market capitalization of $1,006.74 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.83 and a beta of 1.24. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The firm had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts predict that Apple will post 11.69 earnings per share for the current year.

In other Apple news, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,536 shares of company stock valued at $62,894,611. 0.05% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Roanoke Asset Management Corp NY lifted its position in shares of Apple by 1.1% during the second quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock worth $873,000 after purchasing an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of Apple by 0.4% during the second quarter. Guardian Life Insurance Co. of America now owns 12,970 shares of the iPhone maker’s stock worth $2,567,000 after purchasing an additional 51 shares in the last quarter. Monument Capital Management lifted its position in shares of Apple by 2.2% during the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after purchasing an additional 53 shares in the last quarter. Landmark Financial Advisors LLC lifted its position in shares of Apple by 0.7% during the second quarter. Landmark Financial Advisors LLC now owns 7,357 shares of the iPhone maker’s stock worth $1,456,000 after purchasing an additional 53 shares in the last quarter. Finally, MA Private Wealth lifted its position in shares of Apple by 0.3% during the second quarter. MA Private Wealth now owns 16,134 shares of the iPhone maker’s stock worth $3,193,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 58.63% of the company’s stock.

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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