Apple (NASDAQ:AAPL) had its price target increased by Goldman Sachs Group from $171.00 to $187.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the iPhone maker’s stock.
Other analysts have also issued reports about the stock. Credit Suisse Group set a $5.00 price target on shares of Maxar Technologies and gave the stock a sell rating in a research note on Monday, July 15th. Cowen set a $63.00 price target on shares of TJX Companies and gave the stock a buy rating in a research note on Tuesday, June 4th. Jefferies Financial Group upped their price target on shares of EXACT Sciences from $100.00 to $115.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Loop Capital boosted their target price on shares of Apple to $190.00 and gave the stock a hold rating in a report on Wednesday, May 1st. Finally, UBS Group downgraded shares of to a sell rating and boosted their target price for the stock from GBX 530 ($6.93) to GBX 540 ($7.06) in a report on Wednesday, June 12th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $210.82.
Shares of NASDAQ:AAPL opened at $202.59 on Wednesday. The stock has a 50 day moving average of $196.31. The firm has a market cap of $932.13 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.72 and a beta of 1.23. Apple has a twelve month low of $142.00 and a twelve month high of $233.47. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85.
Apple announced that its board has initiated a share buyback plan on Tuesday, April 30th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total value of $7,380,100.00. Following the transaction, the director now owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the completion of the transaction, the chief operating officer now owns 151,187 shares in the company, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its stake in Apple by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,766,487 shares of the iPhone maker’s stock valued at $2,013,786,000 after buying an additional 417,421 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Apple by 4.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 10,155,585 shares of the iPhone maker’s stock valued at $1,929,054,000 after buying an additional 414,856 shares during the period. Thoroughbred Financial Services LLC increased its stake in Apple by 19,949.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock valued at $1,005,513,000 after buying an additional 10,004,976 shares during the period. Clearbridge Investments LLC increased its stake in Apple by 4.0% in the 1st quarter. Clearbridge Investments LLC now owns 7,652,260 shares of the iPhone maker’s stock valued at $1,453,547,000 after buying an additional 295,102 shares during the period. Finally, Sanders Capital LLC increased its stake in Apple by 1.4% in the 4th quarter. Sanders Capital LLC now owns 7,620,004 shares of the iPhone maker’s stock valued at $1,321,786,000 after buying an additional 108,823 shares during the period. Hedge funds and other institutional investors own 58.51% 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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