Apple (NASDAQ:AAPL) Given a $140.00 Price Target by The Goldman Sachs Group Analysts

The Goldman Sachs Group set a $140.00 target price on Apple (NASDAQ:AAPL) in a research note issued to investors on Tuesday morning, Borsen Zeitung reports.

Several other equities analysts also recently commented on AAPL. Wells Fargo & Company upgraded Apple to an overweight rating and raised their target price for the stock from $160.00 to $165.00 in a research report on Wednesday, July 28th. Barclays raised their target price on Apple from $134.00 to $142.00 and gave the stock an equal weight rating in a research report on Wednesday, July 28th. They noted that the move was a valuation call. Evercore ISI upgraded Apple to a buy rating and set a $180.00 target price for the company in a research report on Friday, September 10th. Canaccord Genuity raised their target price on Apple from $175.00 to $185.00 and gave the stock a buy rating in a research report on Wednesday, July 28th. Finally, Sanford C. Bernstein reiterated a hold rating and issued a $132.00 price objective on shares of Apple in a research report on Tuesday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $160.88.

Shares of NASDAQ:AAPL opened at $148.12 on Tuesday. Apple has a 1-year low of $103.10 and a 1-year high of $157.26. The firm has a market capitalization of $2.45 trillion, a PE ratio of 28.99, a PEG ratio of 2.10 and a beta of 1.20. The business’s 50 day moving average is $148.32 and its 200-day moving average is $135.13. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 1.65.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Monday, July 26th. The iPhone maker reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.29. Apple had a return on equity of 131.01% and a net margin of 25.00%. The company had revenue of $81.40 billion for the quarter, compared to analyst estimates of $73.48 billion. During the same quarter last year, the firm earned $0.64 EPS. Apple’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, sell-side analysts predict that Apple will post 5.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Monday, August 9th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 6th. This represents a $0.88 dividend on an annualized basis and a yield of 0.59%. Apple’s payout ratio is 26.83%.

In other news, CEO Timothy D. Cook sold 2,386,440 shares of the business’s stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $148.58, for a total value of $354,577,255.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 14,877 shares of the business’s stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $145.99, for a total value of $2,171,893.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,418,317 shares of company stock valued at $359,229,278. Insiders own 0.06% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beaumont Asset Management L.L.C. grew its holdings in Apple by 3.3% during the 1st quarter. Beaumont Asset Management L.L.C. now owns 2,355 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 75 shares during the period. Milestone Resources Group Ltd grew its holdings in Apple by 57.7% during the 2nd quarter. Milestone Resources Group Ltd now owns 216 shares of the iPhone maker’s stock worth $30,000 after acquiring an additional 79 shares during the period. Groesbeck Investment Management Corp NJ grew its holdings in Apple by 0.6% during the 1st quarter. Groesbeck Investment Management Corp NJ now owns 13,904 shares of the iPhone maker’s stock worth $1,698,000 after acquiring an additional 80 shares during the period. Prentiss Smith & Co. Inc. grew its stake in shares of Apple by 4.7% in the 1st quarter. Prentiss Smith & Co. Inc. now owns 1,800 shares of the iPhone maker’s stock valued at $220,000 after buying an additional 80 shares during the period. Finally, Salzhauer Michael grew its stake in shares of Apple by 2.6% in the 2nd quarter. Salzhauer Michael now owns 3,120 shares of the iPhone maker’s stock valued at $427,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 56.38% of the company’s stock.

About Apple

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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