Apple (NASDAQ:AAPL) has been given a $150.00 price objective by stock analysts at Rosenblatt Securities in a research report issued on Friday, TipRanks reports. The brokerage presently has a “sell” rating on the iPhone maker’s stock. Rosenblatt Securities’ price target would suggest a potential downside of 31.43% from the stock’s current price.
AAPL has been the topic of a number of other research reports. Nomura increased their price objective on shares of Apple from $180.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. DA Davidson raised their price target on shares of Apple to $270.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley set a $247.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Thursday. Raymond James upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $250.00 price target on the stock in a research report on Thursday, July 18th. Finally, Evercore ISI initiated coverage on shares of Apple in a research report on Thursday, June 6th. They set an “outperform” rating and a $205.00 price target on the stock. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Apple currently has an average rating of “Hold” and a consensus price target of $217.25.
Shares of NASDAQ AAPL traded down $4.34 during midday trading on Friday, reaching $218.75. The company had a trading volume of 37,382,340 shares, compared to its average volume of 24,957,554. The business’s 50-day simple moving average is $207.36 and its 200 day simple moving average is $196.71. The stock has a market cap of $1,008.16 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.85 and a beta of 1.24. Apple has a 1 year low of $142.00 and a 1 year high of $233.47. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.08. The business had revenue of $53.81 billion during the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $2.34 earnings per share. Analysts predict that Apple will post 11.68 earnings per share for the current year.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold a total of 304,536 shares of company stock valued at $62,894,611 in the last quarter. 0.05% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. River & Mercantile Asset Management LLP raised its position in Apple by 0.7% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 56,040 shares of the iPhone maker’s stock worth $11,092,000 after buying an additional 400 shares during the last quarter. Princeton Global Asset Management LLC raised its position in Apple by 33.1% during the 2nd quarter. Princeton Global Asset Management LLC now owns 13,921 shares of the iPhone maker’s stock worth $2,755,000 after buying an additional 3,464 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Apple by 2.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,216,742 shares of the iPhone maker’s stock worth $240,818,000 after buying an additional 27,694 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Apple during the 2nd quarter worth $2,392,000. Finally, Rehmann Capital Advisory Group raised its position in Apple by 5.8% during the 2nd quarter. Rehmann Capital Advisory Group now owns 47,720 shares of the iPhone maker’s stock worth $9,445,000 after buying an additional 2,616 shares during the last quarter. Institutional investors and hedge funds own 58.77% of the company’s stock.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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