Apple (NASDAQ:AAPL) had its target price increased by research analysts at Barclays from $326.00 to $400.00 in a research report issued on Friday, MarketBeat reports. The brokerage currently has an “equal weight” rating on the iPhone maker’s stock. Barclays‘s target price would suggest a potential downside of 5.89% from the stock’s previous close.
Several other research firms also recently weighed in on AAPL. DA Davidson lowered their target price on Apple from $370.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Morgan Stanley lifted their price objective on Apple from $419.00 to $431.00 and gave the company an “overweight” rating in a research report on Friday. Sanford C. Bernstein reissued a “hold” rating and issued a $370.00 target price on shares of Apple in a report on Friday, July 24th. Bank of America reaffirmed a “buy” rating and set a $410.00 price target on shares of Apple in a report on Wednesday, July 15th. Finally, Needham & Company LLC increased their price objective on shares of Apple from $350.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirty-one have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $370.23.
Shares of NASDAQ:AAPL opened at $425.04 on Friday. The stock’s 50-day simple moving average is $367.96 and its two-hundred day simple moving average is $313.71. The stock has a market capitalization of $1,842.27 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 3.13 and a beta of 1.18. Apple has a 52-week low of $192.58 and a 52-week high of $425.66. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50.
Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.55. Apple had a net margin of 21.33% and a return on equity of 67.82%. The company had revenue of $59.69 billion during the quarter, compared to analyst estimates of $51.94 billion. As a group, equities analysts forecast that Apple will post 12.43 earnings per share for the current fiscal year.
In other Apple news, insider Chris Kondo sold 4,491 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the sale, the insider now directly owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.05% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Stralem & Co. Inc. purchased a new position in shares of Apple in the 1st quarter valued at about $39,000. Sycomore Asset Management purchased a new stake in shares of Apple in the first quarter valued at approximately $50,000. Heard Capital LLC purchased a new stake in Apple in the 1st quarter worth $51,000. Contravisory Investment Management Inc. raised its position in Apple by 35.6% during the first quarter. Contravisory Investment Management Inc. now owns 484 shares of the iPhone maker’s stock worth $123,000 after acquiring an additional 127 shares during the period. Finally, Pinz Capital Management LP lifted its holdings in Apple by 150.0% during the first quarter. Pinz Capital Management LP now owns 500 shares of the iPhone maker’s stock valued at $127,000 after purchasing an additional 300 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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