Apple (NASDAQ:AAPL)â€˜s stock had its â€œbuyâ€ rating restated by Cascend Securities in a note issued to investors on Thursday, June 20th, Marketbeat Ratings reports. They presently have a $240.00 price objective on the iPhone makerâ€™s stock, up from their previous price objective of $210.00. Cascend Securitiesâ€™ price objective suggests a potential upside of 18.05% from the companyâ€™s previous close.
Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Zumiez from a â€œholdâ€ rating to a â€œsellâ€ rating in a research report on Monday, May 13th. Citigroup set a $73.00 price target on shares of Esperion Therapeutics and gave the stock a â€œbuyâ€ rating in a research note on Tuesday, May 28th. Evercore ISI started coverage on shares of Helmerich & Payne in a research note on Thursday, June 6th. They issued an â€œoutperformâ€ rating on the stock. Jefferies Financial Group raised their target price on shares of EXACT Sciences from $100.00 to $115.00 and gave the company a â€œbuyâ€ rating in a research note on Wednesday, May 1st. Finally, Sanford C. Bernstein set a $190.00 price target on shares of Apple and gave the stock a â€œneutralâ€ rating in a research report on Wednesday, May 1st. Four 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 issued a strong buy rating to the stock. The stock currently has a consensus rating of â€œHoldâ€ and a consensus target price of $209.27.
NASDAQ AAPL opened at $203.30 on Thursday. The stock has a 50-day moving average price of $192.74. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The company has a market cap of $935.08 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.23. Apple has a 52 week low of $142.00 and a 52 week high of $233.47.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.09. The business had revenue of $58.02 billion during the quarter, compared to analystsâ€™ expectations of $57.40 billion. Apple had a net margin of 22.12% and a return on equity of 51.29%. The businessâ€™s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $2.73 earnings per share. As a group, equities research analysts anticipate that Apple will post 11.47 earnings per share for the current year.
Apple declared that its Board of Directors has initiated 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 buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the companyâ€™s board of directors believes its shares are undervalued.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the firmâ€™s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the completion of the transaction, the director now owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 56,411 shares of the firmâ€™s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the transaction, the chief operating officer now owns 151,187 shares of the companyâ€™s stock, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in AAPL. Centaurus Financial Inc. grew its position in Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone makerâ€™s stock valued at $44,000 after purchasing an additional 1,262 shares during the period. Semmax Financial Advisors Inc. acquired a new stake in Apple in the 4th quarter valued at $50,000. Contravisory Investment Management Inc. grew its position in Apple by 30.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone makerâ€™s stock valued at $97,000 after purchasing an additional 144 shares during the period. INR Advisory Services LLC acquired a new stake in Apple in the 4th quarter valued at $124,000. Finally, CKW Financial Group grew its position in Apple by 15.0% in the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone makerâ€™s stock valued at $127,000 after purchasing an additional 105 shares during the period. 58.54% of the stock is owned by 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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