Credit Suisse Group set a $209.00 price objective on Apple (NASDAQ:AAPL) in a research report sent to investors on Tuesday, Borsen Zeitung reports. The firm currently has a neutral rating on the iPhone maker’s stock.
Several other brokerages also recently commented on AAPL. Monness Crespi & Hardt restated a buy rating and issued a $265.00 target price (up previously from $245.00) on shares of Apple in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Apple from $239.00 to $243.00 in a research note on Wednesday, July 31st. Cowen lifted their price target on Apple from $220.00 to $250.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Evercore ISI began coverage on Apple in a research report on Thursday, June 6th. They set an outperform rating and a $205.00 price target for the company. Finally, BTIG Research lifted their price target on Apple to $234.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $216.11.
Shares of NASDAQ AAPL opened at $206.50 on Tuesday. Apple has a 52 week low of $142.00 and a 52 week high of $233.47. The business has a 50-day simple moving average of $203.83 and a two-hundred day simple moving average of $191.72. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The company has a market cap of $933.21 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.70 and a beta of 1.25.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.49%. Apple’s dividend payout ratio is 25.86%.
Apple declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 30th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the transaction, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,376 shares of company stock worth $8,226,574. 0.05% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Semmax Financial Advisors Inc. purchased a new position in Apple in the 4th quarter worth approximately $50,000. Avondale Wealth Management increased its stake in Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after purchasing an additional 64 shares during the period. NuWave Investment Management LLC increased its stake in Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 449 shares during the period. Horan Securities Inc. increased its stake in Apple by 64.2% in the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after purchasing an additional 221 shares during the period. Finally, C M Bidwell & Associates Ltd. increased its stake in Apple by 339.1% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 590 shares during the period. 59.67% of the stock is currently owned by institutional investors and hedge funds.
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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