Credit Suisse Group set a $209.00 price objective on Apple (NASDAQ:AAPL) in a research note released on Friday morning, AnalystRatings.com reports. The brokerage currently has a neutral rating on the iPhone maker’s stock.
Several other analysts have also recently commented on AAPL. Rosenblatt Securities set a $150.00 target price on Apple and gave the company a sell rating in a research report on Friday, September 13th. Bank of America restated a buy rating and issued a $250.00 target price (up from $240.00) on shares of Apple in a research report on Wednesday, September 11th. BidaskClub upgraded Apple from a hold rating to a buy rating in a research report on Wednesday, August 14th. Loop Capital raised their target price on Apple to $200.00 and gave the company a hold rating in a research report on Wednesday, July 31st. Finally, Evercore ISI began coverage on Apple in a research report on Thursday, June 6th. They issued an outperform rating and a $205.00 target price on the stock. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $218.08.
Shares of NASDAQ AAPL opened at $218.72 on Friday. Apple has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The company has a market cap of $998.56 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.82 and a beta of 1.24. The stock’s 50 day simple moving average is $209.55 and its 200 day simple moving average is $198.94.
In related news, Director Arthur D. Levinson sold 17,500 shares of Apple stock in a transaction on Monday, August 12th. The stock was sold at an average price of $201.69, for a total value of $3,529,575.00. Following the transaction, the director now directly owns 1,150,783 shares in the company, valued at approximately $232,101,423.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The disclosure for this sale can be found here. Insiders sold a total of 304,536 shares of company stock worth $62,894,611 over the last 90 days. Insiders own 0.05% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AAPL. Nuveen Asset Management LLC grew its holdings in shares of Apple by 2,874.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock worth $7,108,275,000 after acquiring an additional 34,707,634 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Apple by 19,949.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock worth $1,005,513,000 after acquiring an additional 10,004,976 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Apple in the 2nd quarter worth $809,074,000. Renaissance Technologies LLC acquired a new position in shares of Apple in the 2nd quarter worth $459,677,000. Finally, Morgan Stanley grew its holdings in shares of Apple by 5.8% in the 2nd quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock worth $7,176,836,000 after acquiring an additional 1,996,126 shares during the last quarter. Institutional investors and hedge funds own 58.63% of the company’s stock.
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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