Credit Suisse Group reiterated their neutral rating on shares of Apple (NASDAQ:AAPL) in a research note released on Wednesday morning, AnalystRatings.com reports. The firm currently has a $340.00 price target on the iPhone maker’s stock, up from their prior price target of $295.00.
Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity increased their target price on shares of Apple from $310.00 to $444.00 and gave the company a buy rating in a research note on Thursday, July 16th. Bank of America reiterated a buy rating and issued a $410.00 target price on shares of Apple in a research note on Wednesday, July 15th. Sanford C. Bernstein reiterated a hold rating and issued a $370.00 target price on shares of Apple in a research note on Friday, July 24th. Wells Fargo & Co upgraded shares of Apple to an overweight rating and increased their target price for the company from $400.00 to $420.00 in a research note on Friday, July 24th. Finally, DA Davidson reduced their target price on shares of Apple from $370.00 to $355.00 and set a buy rating for the company in a research note on Friday, May 1st. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $370.23.
AAPL stock opened at $425.04 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46. Apple has a 52-week low of $192.58 and a 52-week high of $425.66. The company has a 50-day moving average of $367.96 and a two-hundred day moving average of $313.71. The stock has a market capitalization of $1,842.26 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18.
Apple shares are going to split on the morning of Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly minted shares will be issued to shareholders after the market closes on Friday, August 28th.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.55. Apple had a net margin of 21.33% and a return on equity of 67.82%. The company had revenue of $59.69 billion during the quarter, compared to analysts’ expectations of $51.94 billion. Equities analysts expect that Apple will post 12.35 EPS for the current fiscal year.
The business also recently declared a dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Friday, August 7th. Apple’s dividend payout ratio is currently 27.59%.
In other Apple news, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction on Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the sale, the insider now owns 7,370 shares of the company’s stock, valued at approximately $2,252,419.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. acquired a new stake in Apple during the 1st quarter worth $536,884,000. Geode Capital Management LLC grew its holdings in Apple by 2.7% during the 1st quarter. Geode Capital Management LLC now owns 64,178,586 shares of the iPhone maker’s stock worth $16,290,282,000 after acquiring an additional 1,696,496 shares during the period. Norges Bank acquired a new stake in Apple during the 4th quarter worth $13,759,345,000. Wellington Management Group LLP grew its holdings in Apple by 18.2% during the 1st quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock worth $6,850,960,000 after acquiring an additional 4,148,565 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Apple by 5.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,839,686 shares of the iPhone maker’s stock worth $5,045,034,000 after purchasing an additional 1,100,533 shares in the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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