Several other research analysts also recently weighed in on AAPL. BTIG Research upgraded shares of Apple to a buy rating and increased their price target for the stock from $207.00 to $235.00 in a research report on Wednesday, August 1st. Macquarie set a $214.00 price target on shares of Apple and gave the stock a buy rating in a research report on Wednesday, August 15th. Morgan Stanley reiterated a buy rating and issued a $232.00 price target on shares of Apple in a research report on Wednesday, August 22nd. S&P Equity Research increased their price target on shares of Apple to $250.00 and gave the stock an in-line rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on shares of Apple in a research report on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and twenty-seven have assigned a buy rating to the stock. Apple has an average rating of Hold and an average target price of $224.75.
Apple stock traded down $1.06 during midday trading on Monday, reaching $193.11. 15,141,427 shares of the company traded hands, compared to its average volume of 39,796,264. The company has a market cap of $1,005.00 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.47 and a beta of 1.26. Apple has a 12 month low of $150.24 and a 12 month high of $233.47. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 12th will be paid a dividend of $0.73 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.92 annualized dividend and a yield of 1.51%. Apple’s payout ratio is 24.52%.
In related news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the completion of the transaction, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 have sold 480,737 shares of company stock valued at $107,157,170 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fort L.P. bought a new stake in shares of Apple in the 2nd quarter worth about $119,000. Delphi Private Advisors LLC bought a new stake in shares of Apple in the 2nd quarter worth about $120,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Apple by 76.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock worth $129,000 after acquiring an additional 302 shares during the last quarter. Quattro Financial Advisors LLC bought a new stake in shares of Apple in the 1st quarter worth about $133,000. Finally, Brand Asset Management Group Inc. bought a new stake in shares of Apple in the 2nd quarter worth about $134,000. 58.35% of the stock is owned by institutional investors.
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.
Further Reading: How to Invest in an Index Fund
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.