Apple (NASDAQ:AAPL) PT Set at $177.07 by Fundamental Research

Apple (NASDAQ:AAPLGet Rating) has been given a $177.07 price target by Fundamental Research in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Fundamental Research’s price objective would indicate a potential upside of 7.09% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research note on Monday, July 25th. Barclays cut their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Morgan Stanley cut their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Finally, Piper Sandler decreased their price objective on Apple from $200.00 to $195.00 in a report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.27.

Apple Stock Down 0.1 %

Shares of Apple stock opened at $165.35 on Thursday. The business has a fifty day simple moving average of $146.34 and a 200 day simple moving average of $157.12. The stock has a market cap of $2.66 trillion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. Apple has a 12 month low of $129.04 and a 12 month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 earnings per share. Research analysts predict that Apple will post 6.1 EPS for the current year.

Apple announced that its board has authorized a stock buyback plan on Thursday, April 28th that permits the company to buyback $90.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Coastal Bridge Advisors LLC lifted its stake in shares of Apple by 3.0% in the 2nd quarter. Coastal Bridge Advisors LLC now owns 62,122 shares of the iPhone maker’s stock valued at $8,493,000 after purchasing an additional 1,818 shares during the period. Ascent Group LLC lifted its stake in shares of Apple by 3.7% in the 2nd quarter. Ascent Group LLC now owns 151,388 shares of the iPhone maker’s stock valued at $24,602,000 after purchasing an additional 5,387 shares during the period. Pillar Wealth Advisors LLC increased its position in Apple by 2.7% in the 2nd quarter. Pillar Wealth Advisors LLC now owns 5,464 shares of the iPhone maker’s stock valued at $747,000 after buying an additional 142 shares in the last quarter. Intercontinental Wealth Advisors LLC increased its position in Apple by 14.8% in the 2nd quarter. Intercontinental Wealth Advisors LLC now owns 86,345 shares of the iPhone maker’s stock valued at $11,805,000 after buying an additional 11,101 shares in the last quarter. Finally, Lindenwold Advisors increased its position in Apple by 1.4% in the 2nd quarter. Lindenwold Advisors now owns 51,132 shares of the iPhone maker’s stock valued at $6,991,000 after buying an additional 708 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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