Weekly Research Analysts’ Ratings Changes for Apple (AAPL)

Several brokerages have updated their recommendations and price targets on shares of Apple (NASDAQ: AAPL) in the last few weeks:

• 7/1/2024 – Apple had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $190.00 price target on the stock.
• 7/1/2024 – Apple had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $220.00 price target on the stock.
• 6/28/2024 – Apple had its price target raised by analysts at Oppenheimer Holdings Inc. from $200.00 to $250.00. They now have an “outperform” rating on the stock.
• 6/26/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $230.00 price target on the stock.
• 6/26/2024 – Apple was upgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating. They now have a $260.00 price target on the stock, up previously from $196.00.
• 6/25/2024 – Apple had its price target raised by analysts at Evercore ISI from $220.00 to $250.00. They now have an “outperform” rating on the stock.
• 6/25/2024 – Apple had its price target raised by analysts at Maxim Group from $178.00 to $195.00. They now have a “hold” rating on the stock.
• 6/24/2024 – Apple had its price target raised by analysts at Melius Research from $227.00 to $260.00. They now have a “buy” rating on the stock.
• 6/21/2024 – Apple had its price target raised by analysts at Sanford C. Bernstein from $195.00 to $240.00. They now have an “outperform” rating on the stock.
• 6/18/2024 – Apple had its price target raised by analysts at JPMorgan Chase & Co. from $225.00 to $245.00. They now have an “overweight” rating on the stock.
• 6/14/2024 – Apple was upgraded by analysts at Erste Group Bank AG from a “hold” rating to a “buy” rating.
• 6/12/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $230.00 price target on the stock.
• 6/11/2024 – Apple had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $164.00 price target on the stock.
• 6/11/2024 – Apple had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $225.00 price target on the stock.
• 6/11/2024 – Apple had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $216.00 price target on the stock.
• 6/11/2024 – Apple had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $196.00 price target on the stock.
• 6/11/2024 – Apple had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $190.00 price target on the stock.
• 6/11/2024 – Apple had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $220.00 price target on the stock.
• 6/11/2024 – Apple was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $230.00 price target on the stock, up previously from $200.00.
• 6/6/2024 – Apple had its “buy” rating reaffirmed by analysts at Monness Crespi & Hardt. They now have a $205.00 price target on the stock.
• 6/4/2024 – Apple had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $216.00 price target on the stock.
• 5/30/2024 – Apple had its price target raised by analysts at Tigress Financial from $240.00 to $245.00. They now have a “strong-buy” rating on the stock.
• 5/29/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $230.00 price target on the stock.
• 5/24/2024 – Apple had its price target raised by analysts at Wedbush from $250.00 to $275.00. They now have an “outperform” rating on the stock.
• 5/13/2024 – Apple had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $250.00 price target on the stock.

Apple Trading Up 0.6 %

AAPL traded up $1.28 on Thursday, hitting $221.55. The company had a trading volume of 37,369,801 shares, compared to its average volume of 87,244,072. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $221.55. The business’s fifty day simple moving average is $194.21 and its 200 day simple moving average is $185.60. The company has a market cap of $3.40 trillion, a PE ratio of 34.46, a PEG ratio of 2.68 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 6.59 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were issued a $0.25 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is presently 15.55%.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,355 shares of company stock worth $34,771,329. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

A number of large investors have recently made changes to their positions in the business. Flagstone Financial Management increased its position in shares of Apple by 0.9% during the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 56 shares in the last quarter. Hoese & Co LLP increased its position in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. High Pines Wealth Management LLC increased its position in shares of Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares during the period. Asset Planning Corporation increased its position in shares of Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after acquiring an additional 59 shares during the period. Finally, Columbus Macro LLC increased its position in shares of Apple by 0.5% in the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after acquiring an additional 59 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.