Goldman Sachs Group Reiterates $192.00 Price Target for Apple (NASDAQ:AAPL)

Goldman Sachs Group set a $192.00 price objective on Apple (NASDAQ:AAPL) in a report published on Wednesday morning, Borsen Zeitung reports. The brokerage currently has a neutral rating on the iPhone maker’s stock.

A number of other brokerages have also recently commented on AAPL. Needham & Company LLC lifted their price target on Apple to $280.00 and gave the stock an average rating in a research note on Thursday, October 31st. HSBC set a $190.00 price target on Apple and gave the stock a sell rating in a research note on Thursday, September 26th. DA Davidson lifted their price target on Apple from $270.00 to $300.00 and gave the stock a buy rating in a research note on Thursday, October 31st. Deutsche Bank lifted their price target on Apple from $210.00 to $230.00 and gave the stock a hold rating in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. Finally, Wells Fargo & Co lifted their price objective on Apple from $215.00 to $245.00 and gave the stock a market perform rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $239.51.

Shares of Apple stock opened at $260.14 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. The business’s 50 day simple moving average is $235.37 and its two-hundred day simple moving average is $209.53. The stock has a market capitalization of $1,142.50 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. Apple has a one year low of $142.00 and a one year high of $260.44.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.19. The business had revenue of $64.04 billion for the quarter, compared to analysts’ expectations of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.91 EPS. Sell-side analysts expect that Apple will post 13.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.08 annualized dividend and a dividend yield of 1.18%. Apple’s dividend payout ratio is presently 25.90%.

In related news, insider Chris Kondo sold 3,932 shares of Apple stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $233.26, for a total transaction of $917,178.32. Following the sale, the insider now directly owns 15,464 shares in the company, valued at $3,607,132.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 465,658 shares of company stock worth $100,549,205 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Nuveen Asset Management LLC boosted its position in shares of 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 valued at $7,108,275,000 after purchasing an additional 34,707,634 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Apple by 19,949.3% in 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 acquiring an additional 10,004,976 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in Apple in the second quarter worth $809,074,000. California Public Employees Retirement System boosted its holdings in Apple by 28.2% in the third quarter. California Public Employees Retirement System now owns 10,844,434 shares of the iPhone maker’s stock worth $2,428,828,000 after acquiring an additional 2,382,156 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Apple in the second quarter worth $459,677,000. Institutional investors own 58.61% 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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