Apple (NASDAQ:AAPL) PT Set at $132.00 by Sanford C. Bernstein

Sanford C. Bernstein set a $132.00 target price on Apple (NASDAQ:AAPL) in a report released on Tuesday morning, Borsen Zeitung reports. The brokerage currently has a neutral rating on the iPhone maker’s stock.

AAPL has been the subject of a number of other research reports. Fundamental Research decreased their target price on shares of Apple from $148.12 to $144.27 and set a buy rating for the company in a research note on Thursday, April 29th. Wells Fargo & Company raised their price target on shares of Apple from $155.00 to $160.00 and gave the company an overweight rating in a report on Thursday, January 28th. Monness Crespi & Hardt raised their price target on shares of Apple from $170.00 to $180.00 and gave the company a buy rating in a report on Wednesday, May 5th. Piper Sandler raised their price target on shares of Apple from $135.00 to $160.00 and gave the company an overweight rating in a report on Thursday, January 28th. Finally, Morgan Stanley raised their price target on shares of Apple from $158.00 to $161.00 and gave the company an overweight rating in a report on Monday, May 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $148.57.

Shares of NASDAQ:AAPL opened at $127.45 on Tuesday. The firm has a fifty day moving average of $129.20 and a two-hundred day moving average of $126.55. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28. Apple has a 12-month low of $75.05 and a 12-month high of $145.09. The company has a quick ratio of 1.33, a current ratio of 1.36 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.41. The company had revenue of $89.58 billion during the quarter, compared to analyst estimates of $76.84 billion. Apple had a net margin of 20.91% and a return on equity of 75.15%. The company’s revenue for the quarter was up 53.6% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts expect that Apple will post 4.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Monday, May 10th were given a dividend of $0.22 per share. This is a positive change from Apple’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Friday, May 7th. Apple’s payout ratio is 26.83%.

In other news, SVP Katherine L. Adams sold 17,000 shares of Apple stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $132.80, for a total transaction of $2,257,600.00. Following the sale, the senior vice president now directly owns 333,044 shares in the company, valued at approximately $44,228,243.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 133,867 shares of Apple stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $125.74, for a total transaction of $16,832,436.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,155 shares of company stock worth $37,610,735. 0.06% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Apple by 3.4% during the fourth quarter. FMR LLC now owns 358,551,697 shares of the iPhone maker’s stock worth $47,576,225,000 after purchasing an additional 11,852,200 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Apple by 0.7% during the first quarter. Geode Capital Management LLC now owns 249,806,296 shares of the iPhone maker’s stock worth $30,426,411,000 after purchasing an additional 1,829,212 shares in the last quarter. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth approximately $22,236,319,000. Morgan Stanley lifted its position in shares of Apple by 4.6% during the fourth quarter. Morgan Stanley now owns 130,352,438 shares of the iPhone maker’s stock worth $17,296,465,000 after purchasing an additional 5,738,590 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Apple by 4.7% during the fourth quarter. Nuveen Asset Management LLC now owns 117,390,371 shares of the iPhone maker’s stock worth $15,576,528,000 after purchasing an additional 5,293,575 shares in the last quarter. Hedge funds and other institutional investors own 57.77% of the company’s stock.

About Apple

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.

Further Reading: Intrinsic Value and Stock Selection

Analyst Recommendations for Apple (NASDAQ:AAPL)

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