Apple (NASDAQ:AAPL) Hits New 52-Week High – Should You Buy?

Apple Inc. (NASDAQ:AAPL) hit a new 52-week high on Thursday . The company traded as high as $289.18 and last traded at $289.0740, with a volume of 450035 shares. The stock had previously closed at $287.51.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AAPL. Scotiabank set a $330.00 target price on Apple in a research note on Monday, February 2nd. Citigroup restated a “buy” rating on shares of Apple in a research note on Tuesday, April 21st. KGI Securities upgraded Apple to an “outperform” rating and set a $306.00 target price on the stock in a research note on Friday, January 30th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, May 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $330.00 target price (up from $315.00) on shares of Apple in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $305.74.

Apple Price Performance

The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.31 trillion, a P/E ratio of 35.46, a PEG ratio of 2.50 and a beta of 1.06. The business’s fifty day moving average is $261.85 and its 200 day moving average is $266.04.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 12.58%.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 96,485 shares of company stock valued at $24,594,845 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apple

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sellwood Investment Partners LLC grew its position in shares of Apple by 110.9% during the 3rd quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in shares of Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Timmons Wealth Management LLC purchased a new position in shares of Apple during the 4th quarter valued at $69,000. Finally, LSV Asset Management purchased a new position in shares of Apple during the 4th quarter valued at $65,000. Institutional investors own 67.73% of the company’s stock.

About Apple

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.