Apple (NASDAQ:AAPL) Reaches New 12-Month High Following Analyst Upgrade

Apple Inc. (NASDAQ:AAPL) reached a new 52-week high during trading on Monday after Piper Jaffray Companies raised their price target on the stock from $270.00 to $290.00. Piper Jaffray Companies currently has an overweight rating on the stock. Apple traded as high as $267.20 and last traded at $265.27, with a volume of 606911 shares trading hands. The stock had previously closed at $265.76.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada set a $295.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, November 13th. Zacks Investment Research lowered shares of Apple from a “hold” rating to a “sell” rating and set a $248.00 price target for the company. in a research report on Monday, October 14th. Monness Crespi & Hardt boosted their price objective on Apple from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank boosted their price objective on Apple from $210.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. Finally, ValuEngine downgraded Apple from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Apple has a consensus rating of “Hold” and an average target price of $244.54.

In other news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 37,394 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total value of $9,639,799.26. Following the transaction, the director now owns 1,170,677 shares of the company’s stock, valued at $301,788,823.83. The disclosure for this sale can be found here. Insiders sold a total of 448,158 shares of company stock valued at $97,019,630 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 bought and sold shares of AAPL. Monument Capital Management raised its holdings in Apple by 2.2% during the 2nd quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock valued at $491,000 after buying an additional 53 shares during the period. Trinity Legacy Partners LLC increased its stake in Apple by 66.8% in the second quarter. Trinity Legacy Partners LLC now owns 18,789 shares of the iPhone maker’s stock worth $3,776,000 after purchasing an additional 7,523 shares during the period. Pictet North America Advisors SA increased its stake in Apple by 3.3% in the second quarter. Pictet North America Advisors SA now owns 131,021 shares of the iPhone maker’s stock worth $25,932,000 after purchasing an additional 4,170 shares during the period. Capital Bank & Trust Co increased its stake in Apple by 0.4% in the second quarter. Capital Bank & Trust Co now owns 621,074 shares of the iPhone maker’s stock worth $122,994,000 after purchasing an additional 2,330 shares during the period. Finally, Rockland Trust Co. increased its stake in Apple by 4.8% in the second quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock worth $4,081,000 after purchasing an additional 948 shares during the period. Hedge funds and other institutional investors own 59.51% of the company’s stock.

The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01. The business has a 50 day simple moving average of $240.62 and a two-hundred day simple moving average of $211.23. The firm has a market cap of $1,166.98 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.25.

Apple (NASDAQ:AAPL) last released its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. The business had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. During the same quarter last year, the firm posted $2.91 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 13.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $3.08 dividend on an annualized basis and a yield of 1.16%. Apple’s payout ratio is 25.90%.

Apple Company Profile (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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