Apple (NASDAQ:AAPL) had its price objective boosted by equities research analysts at Deutsche Bank from $205.00 to $210.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has a “hold” rating on the iPhone maker’s stock. Deutsche Bank’s target price would suggest a potential upside of 0.75% from the company’s current price.
Several other research analysts have also weighed in on AAPL. Cascend Securities reaffirmed a “buy” rating and set a $240.00 target price (up previously from $210.00) on shares of Apple in a research note on Thursday, June 20th. Bank of America set a $230.00 target price on shares of Apple and gave the stock a “buy” rating in a research note on Friday, July 19th. New Street Research lowered shares of Apple from a “neutral” rating to a “sell” rating and set a $170.00 target price for the company. in a research note on Friday, April 12th. Jefferies Financial Group increased their target price on shares of Apple from $160.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $150.00 target price on shares of Apple in a research note on Monday, July 8th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $217.49.
Shares of AAPL opened at $208.43 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.26. Apple has a 12-month low of $142.00 and a 12-month high of $233.47. The firm has a 50-day moving average price of $202.42. The stock has a market capitalization of $960.61 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.77 and a beta of 1.23.
Apple announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of large investors have recently modified their holdings of AAPL. Thoroughbred Financial Services LLC raised its holdings in Apple by 19,949.3% in the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock valued at $1,005,513,000 after acquiring an additional 10,004,976 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Apple in the second quarter valued at approximately $809,074,000. H&H International Investment LLC raised its holdings in Apple by 16.5% in the second quarter. H&H International Investment LLC now owns 3,877,900 shares of the iPhone maker’s stock valued at $785,333,000 after acquiring an additional 550,300 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Apple by 4.1% in the second quarter. Fisher Asset Management LLC now owns 13,738,592 shares of the iPhone maker’s stock valued at $2,719,142,000 after acquiring an additional 546,597 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in Apple by 57.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,235,798 shares of the iPhone maker’s stock valued at $170,524,000 after acquiring an additional 450,098 shares in the last quarter. 58.66% of the stock is currently owned by hedge funds and other institutional investors.
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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