Apple Inc. (NASDAQ:AAPL) Receives $336.32 Average PT from Brokerages

Apple Inc. (NASDAQ:AAPL) has received a consensus rating of “Buy” from the forty-six brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, twenty-eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $338.89.

AAPL has been the topic of several analyst reports. Sanford C. Bernstein raised their target price on Apple from $285.00 to $370.00 and gave the company a “market perform” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group raised their price target on Apple from $370.00 to $405.00 and gave the company a “buy” rating in a report on Friday, June 19th. Royal Bank of Canada raised shares of Apple to an “outperform” rating and upped their price objective for the stock from $345.00 to $390.00 in a report on Wednesday, June 17th. They noted that the move was a valuation call. UBS Group increased their target price on shares of Apple from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, DA Davidson dropped their price target on shares of Apple from $370.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, May 1st.

In other news, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the sale, the insider now directly owns 7,370 shares in the company, valued at approximately $2,252,419.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 9,137 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $285.12, for a total value of $2,605,141.44. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Korea Investment CORP raised its holdings in shares of Apple by 6.3% during the 4th quarter. Korea Investment CORP now owns 3,753,051 shares of the iPhone maker’s stock valued at $1,102,083,000 after purchasing an additional 221,800 shares in the last quarter. Atlas Private Wealth Management acquired a new position in Apple during the fourth quarter worth $4,730,000. Blair William & Co. IL raised its holdings in Apple by 2.0% during the fourth quarter. Blair William & Co. IL now owns 2,568,117 shares of the iPhone maker’s stock valued at $754,128,000 after buying an additional 49,316 shares in the last quarter. Altshuler Shaham Ltd lifted its position in shares of Apple by 2,180.0% in the fourth quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after buying an additional 109 shares during the last quarter. Finally, Capital International Ltd. CA boosted its stake in shares of Apple by 37.6% during the 4th quarter. Capital International Ltd. CA now owns 16,051 shares of the iPhone maker’s stock worth $4,713,000 after acquiring an additional 4,382 shares in the last quarter. Hedge funds and other institutional investors own 62.04% of the company’s stock.

Shares of AAPL stock traded down $1.16 during trading hours on Tuesday, reaching $372.69. The stock had a trading volume of 28,048,874 shares, compared to its average volume of 37,116,364. The firm has a market capitalization of $1,628.54 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18. The firm has a 50-day simple moving average of $339.92 and a 200-day simple moving average of $302.89. Apple has a twelve month low of $192.58 and a twelve month high of $372.38. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 EPS for the quarter, topping the consensus estimate of $2.26 by $0.29. The firm had revenue of $58.31 billion during the quarter, compared to analysts’ expectations of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. Apple’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 EPS. On average, equities analysts anticipate that Apple will post 12.32 earnings per share for the current year.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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