Apple (NASDAQ:AAPL) was upgraded by research analysts at BidaskClub from a â€œholdâ€ rating to a â€œbuyâ€ rating in a report released on Thursday, June 20th, BidAskClub reports.
A number of other equities analysts have also recently weighed in on AAPL. Jefferies Financial Group boosted their price target on EXACT Sciences from $100.00 to $115.00 and gave the stock a â€œbuyâ€ rating in a report on Wednesday, May 1st. Goldman Sachs Group upgraded to a â€œbuyâ€ rating and set a GBX 1,180 ($15.42) target price for the company in a research note on Tuesday, June 4th. Deutsche Bank dropped their target price on from GBX 295 ($3.85) to GBX 285 ($3.72) and set a â€œbuyâ€ rating for the company in a research note on Wednesday, June 19th. ValuEngine lowered Zumiez from a â€œholdâ€ rating to a â€œsellâ€ rating in a research note on Monday, May 13th. Finally, Bank of America reiterated a â€œbuyâ€ rating and issued a $105.00 target price (up from $100.00) on shares of Zendesk in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the companyâ€™s stock. The company has a consensus rating of â€œHoldâ€ and a consensus target price of $209.27.
Shares of NASDAQ AAPL traded up $1.55 during trading on Thursday, reaching $203.30. The company had a trading volume of 15,757,312 shares, compared to its average volume of 29,224,680. Apple has a twelve month low of $142.00 and a twelve month high of $233.47. The stock has a market capitalization of $935.08 billion, a PE ratio of 17.07, a PEG ratio of 1.72 and a beta of 1.23. The businessâ€™s 50-day simple moving average is $192.74. 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 (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share for the quarter, topping the Zacksâ€™ consensus estimate of $2.37 by $0.09. Apple had a return on equity of 51.29% and a net margin of 22.12%. The company had revenue of $58.02 billion during the quarter, compared to analystsâ€™ expectations of $57.40 billion. During the same period in the previous year, the firm posted $2.73 earnings per share. The businessâ€™s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities research analysts expect that Apple will post 11.47 EPS for the current fiscal year.
Apple declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 30th that allows the company to repurchase $75.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the companyâ€™s board believes its stock is undervalued.
In related news, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total value of $11,866,617.96. Following the completion of the transaction, the chief operating officer now owns 151,187 shares of the companyâ€™s stock, valued at $31,803,697.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $210.86, for a total value of $7,380,100.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares of the companyâ€™s stock, valued at approximately $246,344,153.38. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the companyâ€™s stock.
A number of institutional investors and hedge funds have recently modified their holdings of AAPL. Kiley Juergens Wealth Management LLC raised its stake in Apple by 1.1% during the fourth quarter. Kiley Juergens Wealth Management LLC now owns 44,530 shares of the iPhone makerâ€™s stock valued at $7,024,000 after buying an additional 494 shares in the last quarter. Rothschild & Co. Asset Management US Inc. raised its stake in Apple by 9.0% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 304,348 shares of the iPhone makerâ€™s stock valued at $68,704,000 after buying an additional 25,092 shares in the last quarter. CKW Financial Group raised its stake in Apple by 15.0% during the fourth quarter. CKW Financial Group now owns 807 shares of the iPhone makerâ€™s stock valued at $127,000 after buying an additional 105 shares in the last quarter. Dundas Partners LLP raised its stake in Apple by 28.0% during the third quarter. Dundas Partners LLP now owns 43,775 shares of the iPhone makerâ€™s stock valued at $12,083,000 after buying an additional 9,585 shares in the last quarter. Finally, Pecaut & CO. raised its stake in Apple by 3.0% during the first quarter. Pecaut & CO. now owns 59,894 shares of the iPhone makerâ€™s stock valued at $11,377,000 after buying an additional 1,725 shares in the last quarter. 58.54% of the stock is owned by hedge funds and other institutional investors.
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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