Apple (NASDAQ:AAPL) had its price objective raised by equities research analysts at DA Davidson to $270.00 in a research note issued on Wednesday, The Fly reports. The firm currently has a “buy” rating on the iPhone maker’s stock. DA Davidson’s target price points to a potential upside of 23.00% from the company’s previous close.
Several other research analysts have also recently weighed in on the stock. Bank of America upped their price objective on shares of Paycom Software from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group set a €36.00 ($41.86) price objective on shares of Siemens Healthineers and gave the stock a “neutral” rating in a research report on Monday. HSBC initiated coverage on shares of Canada Goose in a research report on Monday, May 20th. They issued a “buy” rating and a $48.32 price objective on the stock. Daiwa Capital Markets set a $212.00 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Finally, Argus upped their target price on Apple to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Apple has a consensus rating of “Hold” and a consensus target price of $216.12.
Shares of AAPL stock traded up $10.73 during trading on Wednesday, hitting $219.51. The company had a trading volume of 24,884,766 shares, compared to its average volume of 17,453,036. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85. The business’s 50-day simple moving average is $201.66. The firm has a market cap of $955.83 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. Apple has a 52 week low of $142.00 and a 52 week high of $233.47.
Apple announced that its board has authorized a share repurchase plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
In related news, COO Jeffrey E. Williams sold 56,411 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the sale, the chief operating officer now owns 151,187 shares of the company’s stock, valued at $31,803,697.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the completion of the sale, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $246,344,153.38. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.
A number of hedge funds have recently made changes to their positions in AAPL. Semmax Financial Advisors Inc. bought a new position in Apple in the fourth quarter worth $50,000. Avondale Wealth Management raised its holdings in Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after purchasing an additional 64 shares in the last quarter. NuWave Investment Management LLC raised its holdings in Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 449 shares in the last quarter. Horan Securities Inc. raised its holdings in Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after purchasing an additional 221 shares in the last quarter. Finally, INR Advisory Services LLC bought a new position in Apple in the fourth quarter worth $124,000. 58.66% 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. 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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