Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research note issued on Thursday, 24/7 WallStreet reports. They currently have a $335.00 price target on the iPhone maker’s stock. Wedbush’s target price would suggest a potential upside of 29.61% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Nomura dropped their price objective on Apple from to in a research note on Monday. New Street Research raised Apple from a “reduce” rating to a “neutral” rating in a research note on Wednesday, January 29th. Raymond James lifted their price objective on Apple from $280.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Sanford C. Bernstein reaffirmed a “hold” rating and issued a $300.00 price objective on shares of Apple in a research note on Tuesday, February 18th. Finally, Morgan Stanley dropped their price objective on Apple from $368.00 to $328.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $304.29.
NASDAQ:AAPL traded up $12.94 on Thursday, reaching $258.46. The company’s stock had a trading volume of 62,289,747 shares, compared to its average volume of 76,273,264. Apple has a 12-month low of $170.27 and a 12-month 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 firm has a market cap of $1,110.76 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.30. The stock has a 50 day moving average price of $289.96 and a 200 day moving average price of $270.14.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $91.80 billion during the quarter, compared to analysts’ expectations of $88.41 billion. During the same period in the previous year, the firm posted $4.18 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that Apple will post 13.05 EPS for the current fiscal year.
In other Apple news, Director Arthur D. Levinson sold 1,429 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $304.11, for a total transaction of $434,573.19. Following the transaction, the director now owns 1,134,712 shares in the company, valued at approximately $345,077,266.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Apple by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 62,482,090 shares of the iPhone maker’s stock worth $18,311,057,000 after acquiring an additional 789,746 shares during the period. Norges Bank acquired a new stake in Apple during the 4th quarter valued at $13,759,345,000. Wealth Quarterback LLC acquired a new stake in Apple during the 4th quarter valued at $3,783,310,000. Charles Schwab Investment Management Inc. grew its holdings in Apple by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,450,823 shares of the iPhone maker’s stock valued at $6,005,385,000 after buying an additional 71,513 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Apple by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 17,197,304 shares of the iPhone maker’s stock valued at $5,049,165,000 after buying an additional 225,304 shares during the last quarter. Institutional investors and hedge funds own 60.69% of the company’s stock.
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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