Apple (NASDAQ:AAPL) had its price objective increased by investment analysts at Piper Sandler from $310.00 to $450.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has an “overweight” rating on the iPhone maker’s stock. Piper Sandler’s target price suggests a potential upside of 5.87% from the stock’s previous close. Piper Sandler also issued estimates for Apple’s Q1 2022 earnings at $5.87 EPS.
Other analysts also recently issued reports about the stock. Raymond James upped their price objective on shares of Apple from $340.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Sanford C. Bernstein reaffirmed a “hold” rating and set a $370.00 price target on shares of Apple in a research report on Friday, July 24th. Jefferies Financial Group lifted their price objective on Apple from $370.00 to $405.00 and gave the company a “buy” rating in a research note on Friday, June 19th. HSBC upgraded Apple from a “reduce” rating to a “hold” rating and lowered their target price for the stock from $385.00 to $295.00 in a research note on Wednesday, June 10th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $340.00 price target (up from $295.00) on shares of Apple in a research report on Wednesday. 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 company’s stock. Apple currently has a consensus rating of “Buy” and a consensus price target of $370.23.
NASDAQ:AAPL opened at $425.04 on Friday. The company has a market capitalization of $1,842.27 billion, a P/E ratio of 32.32, a PEG ratio of 3.13 and a beta of 1.18. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14. Apple has a 12 month low of $192.58 and a 12 month high of $425.66. The firm has a fifty day simple moving average of $367.96 and a 200-day simple moving average of $313.71.
Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.58 EPS for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.55. The firm had revenue of $59.69 billion during the quarter, compared to the consensus estimate of $51.94 billion. Apple had a return on equity of 67.82% and a net margin of 21.33%. Equities analysts forecast that Apple will post 12.43 EPS for the current year.
In other Apple news, insider Chris Kondo sold 4,491 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the sale, the insider now directly owns 7,370 shares of the company’s stock, valued at approximately $2,252,419.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of AAPL. Stralem & Co. Inc. acquired a new stake in Apple during the first quarter worth $39,000. Sycomore Asset Management acquired a new stake in shares of Apple during the 1st quarter worth about $50,000. Heard Capital LLC purchased a new stake in Apple in the 1st quarter valued at about $51,000. Sofos Investments Inc. raised its holdings in Apple by 16.9% in the 1st quarter. Sofos Investments Inc. now owns 940 shares of the iPhone maker’s stock valued at $99,000 after buying an additional 136 shares during the period. Finally, Contravisory Investment Management Inc. boosted its stake 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 buying an additional 127 shares during the period. Institutional investors own 61.96% of the company’s stock.
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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