Apple (NASDAQ:AAPL) Sets New 52-Week High at $240.00

Apple Inc. (NASDAQ:AAPL) shares hit a new 52-week high during trading on Monday . The company traded as high as $240.00 and last traded at $239.86, with a volume of 383932 shares traded. The stock had previously closed at $236.41.

A number of research analysts have commented on the company. Cascend Securities boosted their price objective on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Morgan Stanley set a $247.00 price objective on Apple and gave the company a “buy” rating in a research report on Wednesday, September 18th. Nomura increased their price objective on Apple from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. BidaskClub upgraded Apple from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 27th. Finally, DZ Bank reiterated a “neutral” rating on shares of Apple in a research report on Wednesday, September 11th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $224.46.

The stock has a fifty day moving average price of $220.99 and a 200-day moving average price of $204.27. The company has a market cap of $1,087.68 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.08. The company had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 11.68 earnings per share for the current year.

In other news, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 12,459 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $234.04, for a total transaction of $2,915,904.36. Following the completion of the transaction, the senior vice president now directly owns 57,819 shares in the company, valued at $13,531,958.76. The disclosure for this sale can be found here. Insiders sold 450,140 shares of company stock worth $95,606,404 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC increased its position in Apple by 2,874.9% during the second quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock worth $7,108,275,000 after buying an additional 34,707,634 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in Apple by 19,949.3% during the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock worth $1,005,513,000 after buying an additional 10,004,976 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in Apple during the second quarter worth $809,074,000. Renaissance Technologies LLC acquired a new position in Apple during the second quarter worth $459,677,000. Finally, Morgan Stanley increased its position in Apple by 5.8% during the second quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock worth $7,176,836,000 after buying an additional 1,996,126 shares during the last quarter. 58.65% of the stock is currently owned by institutional investors and hedge funds.

About Apple (NASDAQ:AAPL)

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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