Apple (NASDAQ:AAPL) has been assigned a $209.00 price objective by Credit Suisse Group in a research report issued on Wednesday, April 17th, TipRanks reports. The firm currently has a “hold” rating on the iPhone maker’s stock. Credit Suisse Group’s target price would suggest a potential upside of 5.99% from the company’s current price.
Other research analysts also recently issued reports about the company. UBS Group boosted their price target on Apple from $180.00 to $185.00 in a report on Wednesday, January 30th. Monness Crespi & Hardt restated a “buy” rating and issued a $200.00 price objective (down from $300.00) on shares of Apple in a research report on Thursday, January 3rd. Needham & Company LLC cut their price objective on Apple from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, January 3rd. Citigroup cut their price objective on Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, January 3rd. Finally, Royal Bank of Canada set a $185.00 price objective on Apple and gave the company a “buy” rating in a research report on Thursday, January 3rd. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $211.43.
Shares of Apple stock traded down $2.76 on Wednesday, reaching $197.18. 38,764,368 shares of the stock were exchanged, compared to its average volume of 27,024,756. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85. Apple has a twelve month low of $142.00 and a twelve month high of $233.47. The company has a market capitalization of $986.57 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.70 and a beta of 1.14.
Apple declared that its board has initiated a stock buyback program on Tuesday, April 30th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Apple news, insider Luca Maestri sold 51,138 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the sale, the insider now owns 27,448 shares in the company, valued at approximately $5,396,551.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $210.86, for a total value of $7,380,100.00. Following the sale, the director now owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,549 shares of company stock worth $29,300,960. 0.05% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kiley Juergens Wealth Management LLC lifted its position in Apple by 1.1% during the 4th quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone maker’s stock worth $7,024,000 after acquiring an additional 494 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its position in Apple by 9.0% during the 3rd quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone maker’s stock worth $68,704,000 after acquiring an additional 25,092 shares during the period. Newman Dignan & Sheerar Inc. lifted its holdings in shares of Apple by 5.2% in the 3rd quarter. Newman Dignan & Sheerar Inc. now owns 23,123 shares of the iPhone maker’s stock valued at $5,186,000 after buying an additional 1,142 shares during the period. CKW Financial Group lifted its holdings in shares of Apple by 15.0% in the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after buying an additional 105 shares during the period. Finally, Dundas Partners LLP lifted its holdings in shares of Apple by 28.0% in the 3rd quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone maker’s stock valued at $12,083,000 after buying an additional 9,585 shares during the period. Institutional investors own 57.47% of the company’s stock.
Apple Company Profile
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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