Analysts Set Apple Inc. (NASDAQ:AAPL) PT at $217.12

Apple Inc. (NASDAQ:AAPL) has earned an average rating of “Hold” from the forty-nine ratings firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $216.11.

AAPL has been the topic of a number of research reports. Longbow Research restated a “hold” rating on shares of Apple in a research note on Monday. JPMorgan Chase & Co. upped their price target on Apple from $239.00 to $243.00 in a research note on Wednesday, July 31st. Sanford C. Bernstein reaffirmed a “neutral” rating and set a $205.00 price objective on shares of Apple in a research report on Wednesday, July 31st. BTIG Research upped their price objective on Apple to $234.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group upped their price objective on Apple from $160.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st.

NASDAQ:AAPL traded down $1.04 during trading hours on Friday, reaching $201.71. 22,661,262 shares of the stock were exchanged, compared to its average volume of 28,654,836. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The stock has a 50-day simple moving average of $203.68. Apple has a twelve month low of $142.00 and a twelve month high of $233.47. The stock has a market cap of $906.01 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion for the quarter, compared to analysts’ expectations of $53.39 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts forecast that Apple will post 11.58 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 12th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, August 9th. Apple’s dividend payout ratio (DPR) is presently 25.86%.

Apple declared that its board has approved a stock repurchase plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

In other Apple news, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $201.69, for a total value of $3,529,575.00. Following the transaction, the director now directly owns 1,150,783 shares in the company, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders sold 39,376 shares of company stock worth $8,226,574 in the last three months. 0.05% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the business. Founders Capital Management LLC increased its holdings in Apple by 164.2% in the 4th quarter. Founders Capital Management LLC now owns 15,120 shares of the iPhone maker’s stock worth $2,385,000 after acquiring an additional 9,396 shares during the last quarter. Strategic Wealth Management Group LLC purchased a new position in Apple during the 4th quarter valued at about $2,789,000. Highwater Wealth Management LLC purchased a new position in Apple during the 4th quarter valued at about $421,000. Moller Financial Services grew its holdings in Apple by 438.8% during the 4th quarter. Moller Financial Services now owns 5,383 shares of the iPhone maker’s stock valued at $807,000 after buying an additional 4,384 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC grew its holdings in Apple by 2.3% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 448,745 shares of the iPhone maker’s stock valued at $70,785,000 after buying an additional 10,038 shares in the last quarter. 59.67% of the stock is currently owned by institutional investors.

About Apple

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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Analyst Recommendations for Apple (NASDAQ:AAPL)

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