Apple (NASDAQ:AAPL)‘s stock had its “buy” rating restated by research analysts at Citigroup in a research note issued to investors on Friday, MarketBeat reports. They presently have a $450.00 price target on the iPhone maker’s stock, up from their prior price target of $400.00. Citigroup‘s price objective would suggest a potential upside of 5.87% from the company’s previous close.
Several other research analysts also recently commented on the company. Deutsche Bank reissued a “buy” rating and issued a $440.00 target price (up from $400.00) on shares of Apple in a report on Friday. Canaccord Genuity boosted their price objective on Apple from $310.00 to $444.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Fundamental Research restated a “buy” rating and set a $409.26 target price on shares of Apple in a report on Tuesday, July 14th. Tigress Financial reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, April 14th. Finally, Sanford C. Bernstein reiterated a “hold” rating and set a $370.00 price target on shares of Apple in a research report on Friday, July 24th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $370.23.
Apple stock opened at $425.04 on Friday. The firm has a market capitalization of $1,842.27 billion, a P/E ratio of 32.32, a P/E/G ratio of 3.13 and a beta of 1.18. The stock has a fifty day moving average price of $367.96 and a two-hundred day moving average price of $313.71. 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 current ratio of 1.50 and a quick ratio of 1.46.
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, topping analysts’ consensus estimates of $2.03 by $0.55. The business had revenue of $59.69 billion during the quarter, compared to analysts’ expectations of $51.94 billion. Apple had a net margin of 21.33% and a return on equity of 67.82%. On average, equities research analysts predict that Apple will post 12.43 EPS for the current fiscal year.
In related news, insider Chris Kondo sold 4,491 shares of the business’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 approximately $2,252,419.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.05% of the company’s stock.
Several large investors have recently bought and sold shares of AAPL. Quadrant Capital Group LLC grew its position in Apple by 22.9% in the fourth quarter. Quadrant Capital Group LLC now owns 55,530 shares of the iPhone maker’s stock valued at $16,262,000 after purchasing an additional 10,344 shares in the last quarter. Vigilare Wealth Management bought a new position in shares of Apple in the 4th quarter valued at about $3,636,000. Wealth Advisors Inc. bought a new position in shares of Apple in the 4th quarter valued at about $22,185,000. Tempus Wealth Planning LLC acquired a new stake in shares of Apple in the fourth quarter valued at about $1,052,000. Finally, Macquarie Group Ltd. raised its holdings in Apple by 51.6% during the fourth quarter. Macquarie Group Ltd. now owns 659,029 shares of the iPhone maker’s stock worth $193,525,000 after acquiring an additional 224,246 shares in the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.
Apple Company Profile
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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