Apple (NASDAQ:AAPL – Get Rating) received a $139.00 price target from The Goldman Sachs Group in a report issued on Friday, MarketBeat Ratings reports. The Goldman Sachs Group’s price target would indicate a potential downside of 14.47% from the company’s current price.
Other equities analysts also recently issued reports about the stock. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Apple in a research note on Wednesday, June 8th. Credit Suisse Group set a $166.00 price objective on Apple in a research report on Friday. Loop Capital decreased their target price on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Bank of America cut their price target on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Finally, Piper Sandler decreased their price objective on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.04.
Apple Trading Up 3.3 %
Shares of AAPL stock opened at $162.51 on Friday. The business has a 50-day moving average of $144.31 and a 200 day moving average of $157.31. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. Apple has a 1-year low of $129.04 and a 1-year high of $182.94. The stock has a market capitalization of $2.63 trillion, a PE ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.88% and a net margin of 26.41%. The firm had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple will post 6.09 earnings per share for the current year.
Apple declared that its Board of Directors has authorized a share buyback program on Thursday, April 28th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Apple
In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Apple by 3.5% during the fourth quarter. Signaturefd LLC now owns 380,450 shares of the iPhone maker’s stock valued at $67,556,000 after buying an additional 12,710 shares during the last quarter. Heirloom Wealth Management bought a new stake in shares of Apple during the 4th quarter valued at $266,000. Reuter James Wealth Management LLC purchased a new stake in shares of Apple in the 4th quarter worth $3,340,000. Moseley Investment Management Inc. raised its holdings in Apple by 11.9% in the 4th quarter. Moseley Investment Management Inc. now owns 87,420 shares of the iPhone maker’s stock worth $15,523,000 after purchasing an additional 9,275 shares during the period. Finally, Alley Co LLC lifted its position in Apple by 0.7% during the fourth quarter. Alley Co LLC now owns 134,443 shares of the iPhone maker’s stock valued at $23,873,000 after purchasing an additional 883 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.
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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