Morningstar Analysts Give Apple (AAPL) a $200.00 Price Target

Morningstar set a $200.00 price objective on Apple (NASDAQ:AAPL) in a research report sent to investors on Thursday. The brokerage currently has a neutral rating on the iPhone maker’s stock.

AAPL has been the subject of a number of other reports. Loop Capital increased their target price on Apple from $195.00 to $210.00 and gave the stock a buy rating in a research note on Friday, July 6th. BidaskClub cut Apple from a strong-buy rating to a buy rating in a research note on Wednesday. Royal Bank of Canada reissued a buy rating and set a $240.00 target price on shares of Apple in a research note on Tuesday, September 11th. Wells Fargo & Co set a $210.00 target price on Apple and gave the stock a neutral rating in a research note on Wednesday, September 5th. Finally, Needham & Company LLC increased their target price on Apple from $210.00 to $220.00 and gave the stock a buy rating in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $217.53.

NASDAQ AAPL opened at $223.84 on Thursday. Apple has a 52-week low of $149.16 and a 52-week high of $229.67. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. The company has a market cap of $1,086.59 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.16. Apple had a return on equity of 43.50% and a net margin of 21.98%. The business had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. During the same period in the prior year, the business earned $1.67 EPS. Apple’s revenue for the quarter was up 17.3% compared to the same quarter last year. sell-side analysts expect that Apple will post 11.76 earnings per share for the current year.

In related news, insider Johny Srouji sold 14,140 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the completion of the transaction, the insider now directly owns 68,302 shares of the company’s stock, valued at $14,683,563.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Insiders sold 378,400 shares of company stock valued at $81,052,754 over the last three months. 0.08% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. B. Riley Financial Inc. lifted its holdings in Apple by 27.6% during the 1st quarter. B. Riley Financial Inc. now owns 17,412 shares of the iPhone maker’s stock valued at $2,921,000 after purchasing an additional 3,770 shares during the last quarter. Roof Advisory Group Inc. lifted its holdings in Apple by 44.0% during the 1st quarter. Roof Advisory Group Inc. now owns 42,322 shares of the iPhone maker’s stock valued at $7,101,000 after purchasing an additional 12,930 shares during the last quarter. Mizuho Securities USA LLC acquired a new stake in Apple during the 1st quarter valued at $1,477,000. Viridian Ria LLC acquired a new stake in Apple during the 1st quarter valued at $525,000. Finally, Turim 21 Investimentos Ltda. lifted its holdings in Apple by 5.1% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 59,421 shares of the iPhone maker’s stock valued at $9,970,000 after purchasing an additional 2,906 shares during the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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