Apple (NASDAQ:AAPL – Get Rating) has been given a $157.00 price objective by analysts at The Goldman Sachs Group in a report issued on Friday, Borsen Zeitung reports. The Goldman Sachs Group’s price objective indicates a potential upside of 7.60% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Bank of America decreased their target price on shares of Apple from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. Zacks Investment Research reiterated a “buy” rating on shares of Apple in a research note on Wednesday, March 2nd. Deutsche Bank Rese… set a $210.00 target price on shares of Apple in a research note on Friday, April 8th. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a research note on Monday, May 2nd. Finally, Credit Suisse Group set a $169.00 target price on shares of Apple in a research note on Friday, April 29th. Nine research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Buy” and an average target price of $187.21.
Apple stock traded down $5.30 during trading hours on Friday, hitting $145.91. 2,994,518 shares of the stock traded hands, compared to its average volume of 107,752,464. The firm’s 50-day moving average price is $159.00 and its two-hundred day moving average price is $164.89. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The company has a market cap of $2.36 trillion, a PE ratio of 23.67, a PEG ratio of 1.95 and a beta of 1.20. Apple has a one year low of $123.13 and a one year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $97.28 billion during the quarter, compared to analyst estimates of $93.99 billion. During the same period last year, the business earned $1.40 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Apple will post 6.11 earnings per share for the current fiscal year.
Apple declared that its board has approved a stock repurchase plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, COO Jeffrey E. Williams sold 105,901 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $177.75, for a total transaction of $18,823,902.75. Following the sale, the chief operating officer now directly owns 489,662 shares in the company, valued at approximately $87,037,420.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 29,198 shares of the stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $24,228,273.30. The disclosure for this sale can be found here. Insiders have sold a total of 168,099 shares of company stock valued at $29,376,711 in the last three months. Insiders own 0.06% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. ESG Planning purchased a new stake in Apple in the 1st quarter worth about $5,209,000. Mid American Wealth Advisory Group Inc. increased its position in shares of Apple by 11.7% during the first quarter. Mid American Wealth Advisory Group Inc. now owns 5,272 shares of the iPhone maker’s stock worth $921,000 after acquiring an additional 552 shares during the period. Walleye Capital LLC increased its position in shares of Apple by 519.3% during the first quarter. Walleye Capital LLC now owns 44,561 shares of the iPhone maker’s stock worth $7,781,000 after acquiring an additional 37,366 shares during the period. CFS Investment Advisory Services LLC increased its position in shares of Apple by 18,263.5% during the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after acquiring an additional 7,416,445 shares during the period. Finally, WealthTrust Asset Management LLC increased its position in shares of Apple by 5.0% during the first quarter. WealthTrust Asset Management LLC now owns 27,073 shares of the iPhone maker’s stock worth $4,727,000 after acquiring an additional 1,292 shares during the period. 57.98% of the stock is currently owned by institutional investors.
About Apple (Get Rating)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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