Warning: Use of undefined constant REQUEST_URI - assumed 'REQUEST_URI' (this will throw an Error in a future version of PHP) in C:\xampp\htdocs\mbc1\wp-content\themes\jannah4\functions.php on line 73
BidaskClub Upgrades Apple (NASDAQ:AAPL) to “Buy” – jj
rss

BidaskClub Upgrades Apple (NASDAQ:AAPL) to “Buy”

[ad_1]

Apple (NASDAQ:AAPL) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday, June 20th, BidAskClub reports.

A number of other equities analysts have also commented on the company. Wedbush restated an “in-line” rating on shares of Apple in a research note on Friday, June 14th. Citigroup set a $73.00 price target on Esperion Therapeutics and gave the company a “buy” rating in a research note on Tuesday, May 28th. Credit Suisse Group set a €21.78 ($25.33) price target on Deutsche Lufthansa and gave the company a “buy” rating in a research note on Monday, June 17th. Cowen set a $63.00 price target on TJX Companies and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, New Street Research lowered Apple from a “neutral” rating to a “sell” rating and set a $170.00 price target on the stock. in a research note on Friday, April 12th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $209.27.

Shares of Apple stock traded up $1.55 during trading hours on Thursday, hitting $203.30. The company’s stock had a trading volume of 17,587,122 shares, compared to its average volume of 21,233,328. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $935.40 billion, a P/E ratio of 17.07, a PEG ratio of 1.71 and a beta of 1.23. The stock has a 50 day simple moving average of $192.74. Apple has a 12 month low of $142.00 and a 12 month 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 for the quarter, topping the 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 analysts’ expectations of $57.40 billion. During the same period in the prior year, the firm earned $2.73 earnings per share. Apple’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Apple will post 11.47 earnings per share for the current fiscal year.

Apple declared that its board has approved a stock repurchase 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 buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

In other Apple news, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the completion of the sale, the chief operating officer now directly owns 151,187 shares in the company, valued at $31,803,697.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the firm’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 transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at approximately $246,344,153.38. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of AAPL. Morgan Stanley grew its position in Apple by 9.7% in the 3rd quarter. Morgan Stanley now owns 39,188,032 shares of the iPhone maker’s stock worth $8,846,307,000 after purchasing an additional 3,452,792 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Apple by 18.8% during the 3rd quarter. Janus Henderson Group PLC now owns 20,833,222 shares of the iPhone maker’s stock worth $4,703,027,000 after acquiring an additional 3,293,674 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Apple by 88.4% during the 3rd quarter. Federated Investors Inc. PA now owns 1,192,947 shares of the iPhone maker’s stock worth $269,295,000 after acquiring an additional 559,737 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of Apple by 279.3% during the 3rd quarter. Artemis Investment Management LLP now owns 617,946 shares of the iPhone maker’s stock worth $139,510,000 after acquiring an additional 455,045 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Apple by 1.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 26,144,522 shares of the iPhone maker’s stock valued at $5,901,864,000 after buying an additional 454,086 shares in the last quarter. 58.54% of the stock is owned by institutional investors and hedge funds.

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.

See Also: What is the Current Ratio?

Analyst Recommendations for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

[ad_2]
Source link

Tags

Related Articles

Leave a Reply

Back to top button
Close