Apple (NASDAQ:AAPL) PT Raised to $215.00

Apple (NASDAQ:AAPL) had its target price raised by stock analysts at Canaccord Genuity Group from $200.00 to $215.00 in a note issued to investors on Saturday, Stock Target Advisor reports. The firm currently has a “buy” rating on the iPhone maker’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 17.24% from the company’s current price.

Several other brokerages also recently commented on AAPL. Robert W. Baird lifted their target price on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Apple in a report on Friday. Maxim Group began coverage on shares of Apple in a report on Wednesday, April 17th. They set a “hold” rating and a $178.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research note on Friday. Finally, The Goldman Sachs Group lifted their target price on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $204.11.

Apple Stock Up 6.0 %

Shares of NASDAQ AAPL opened at $183.38 on Friday. The company has a 50 day simple moving average of $172.17 and a 200 day simple moving average of $181.67. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple has a 1 year low of $164.07 and a 1 year high of $199.62. The firm has a market cap of $2.83 trillion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 153.25%. The firm had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts forecast that Apple will post 6.54 EPS for the current year.

Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AAPL. Wyrmwood Management LLC grew its position in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Christopher J. Hasenberg Inc purchased a new position in Apple during the 1st quarter valued at about $35,000. Gilfoyle & Co LLC increased its position in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple in the fourth quarter worth about $39,000. Finally, University of Texas Texas AM Investment Managment Co. boosted its position in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.