Barclays Increases Apple (NASDAQ:AAPL) Price Target to $169.00

Apple (NASDAQ:AAPLGet Rating) had its price objective boosted by Barclays from $166.00 to $169.00 in a report published on Friday, The Fly reports. The brokerage currently has a maintains rating on the iPhone maker’s stock.

A number of other equities analysts also recently commented on AAPL. UBS Group set a $185.00 price objective on Apple in a report on Thursday, July 21st. StockNews.com initiated coverage on Apple in a report on Thursday, March 31st. They set a hold rating on the stock. Itau BBA Securities initiated coverage on Apple in a report on Tuesday, July 26th. They set an underperform rating and a $136.00 price target on the stock. Citigroup increased their price target on Apple from $175.00 to $185.00 and gave the company a buy rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Apple from $200.00 to $175.00 in a report on Tuesday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $179.04.

Apple Trading Up 3.3 %

NASDAQ:AAPL opened at $162.51 on Friday. The stock’s 50 day moving average price is $144.31 and its 200 day moving average price is $157.20. Apple has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a market capitalization of $2.63 trillion, a P/E ratio of 26.38, a P/E/G ratio of 1.97 and a beta of 1.19. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, research analysts forecast that Apple will post 6.09 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s payout ratio is presently 14.94%.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ridgecrest Wealth Partners LLC lifted its holdings in shares of Apple by 0.6% during the second quarter. Ridgecrest Wealth Partners LLC now owns 115,364 shares of the iPhone maker’s stock valued at $15,773,000 after acquiring an additional 663 shares during the period. Primoris Wealth Advisors LLC increased its stake in shares of Apple by 9.0% in the second quarter. Primoris Wealth Advisors LLC now owns 26,209 shares of the iPhone maker’s stock valued at $3,583,000 after buying an additional 2,157 shares in the last quarter. Greenup Street Wealth Management LLC acquired a new stake in shares of Apple in the second quarter valued at $2,418,000. Bowman & Co S.C. increased its stake in shares of Apple by 11.8% in the second quarter. Bowman & Co S.C. now owns 20,501 shares of the iPhone maker’s stock valued at $2,803,000 after buying an additional 2,162 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its stake in shares of Apple by 8.3% in the second quarter. Aptus Capital Advisors LLC now owns 477,181 shares of the iPhone maker’s stock valued at $65,240,000 after buying an additional 36,463 shares in the last quarter. 57.98% of the stock is 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.

See Also



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.

Leave a Reply

Your email address will not be published. Required fields are marked *