Apple (AAPL) Given a $235.00 Price Target by JPMorgan Chase & Co. Analysts

JPMorgan Chase & Co. set a $235.00 target price on Apple (NASDAQ:AAPL) in a report released on Tuesday morning, Borsen Zeitung reports. The brokerage currently has a buy rating on the iPhone maker’s stock.

Several other research analysts also recently issued reports on the company. BidaskClub downgraded Apple from a buy rating to a hold rating in a report on Tuesday. ValuEngine downgraded Apple from a buy rating to a hold rating in a report on Monday, May 13th. Argus upped their price objective on Apple to $250.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Loop Capital upped their price objective on Apple to $190.00 and gave the stock a hold rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group increased their price target on Apple from $160.00 to $210.00 and gave the company a hold rating in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $211.56.

NASDAQ:AAPL opened at $189.00 on Tuesday. Apple has a 52-week low of $142.00 and a 52-week high of $233.47. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32. The firm has a market cap of $938.40 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.62 and a beta of 1.14.



Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) 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 firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $57.40 billion. During the same quarter in the prior year, the business earned $2.73 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, analysts expect that Apple will post 11.48 earnings per share for the current year.

Apple announced that its board has approved a share buyback plan on Tuesday, April 30th that permits the company to repurchase $75.00 billion in 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 generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Apple’s previous quarterly dividend of $0.73. Apple’s dividend payout ratio is currently 25.86%.

In related news, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total value of $7,380,100.00. Following the completion of the sale, the director now owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction on 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 owns 151,187 shares of the company’s stock, valued at approximately $31,803,697.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,549 shares of company stock valued at $29,300,960. 0.05% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitchell Sinkler & Starr PA boosted its stake in shares of Apple by 0.6% during the 1st quarter. Mitchell Sinkler & Starr PA now owns 8,321 shares of the iPhone maker’s stock worth $1,581,000 after buying an additional 50 shares during the last quarter. Gould Asset Management LLC CA boosted its stake in shares of Apple by 0.7% during the 1st quarter. Gould Asset Management LLC CA now owns 6,804 shares of the iPhone maker’s stock worth $1,292,000 after buying an additional 50 shares during the last quarter. Live Your Vision LLC boosted its stake in shares of Apple by 1.2% during the 1st quarter. Live Your Vision LLC now owns 4,476 shares of the iPhone maker’s stock worth $928,000 after buying an additional 54 shares during the last quarter. ELCO Management Co. LLC boosted its stake in shares of Apple by 0.3% during the 1st quarter. ELCO Management Co. LLC now owns 16,480 shares of the iPhone maker’s stock worth $3,130,000 after buying an additional 55 shares during the last quarter. Finally, Madrona Financial Services LLC boosted its stake in shares of Apple by 1.0% during the 1st quarter. Madrona Financial Services LLC now owns 5,467 shares of the iPhone maker’s stock worth $1,039,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 57.36% of the company’s stock.

About Apple

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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