Apple (NASDAQ:AAPL – Get Rating) has been assigned a $200.00 price objective by JPMorgan Chase & Co. in a report released on Monday, Borsen Zeitung reports. JPMorgan Chase & Co.‘s target price suggests a potential upside of 34.27% from the stock’s previous close.
A number of other analysts have also recently weighed in on AAPL. UBS Group decreased their price target on shares of Apple from $185.00 to $180.00 in a research note on Tuesday, November 8th. Bank Of America (Bofa) cut shares of Apple from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $189.00 to $160.00 in a research note on Friday, September 30th. Robert W. Baird reduced their price objective on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. KeyCorp reiterated a “buy” rating and issued a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Finally, Wedbush dropped their target price on shares of Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.26.
Apple Stock Performance
AAPL traded down $0.75 on Monday, reaching $148.95. The stock had a trading volume of 1,896,595 shares, compared to its average volume of 89,235,953. The company has a market cap of $2.37 trillion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.25. The business’s 50-day moving average price is $147.66 and its two-hundred day moving average price is $150.16. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. Apple has a 12-month low of $129.04 and a 12-month high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same period in the prior year, the business earned $1.24 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Apple will post 6.32 earnings per share for the current year.
Insider Activity
In related news, SVP Deirdre O’brien sold 176,299 shares of Apple stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,374,986.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. Insiders have sold 457,386 shares of company stock worth $70,627,433 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. EverSource Wealth Advisors LLC increased its position in shares of Apple by 8.3% during the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock valued at $13,029,000 after acquiring an additional 5,703 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Apple during the first quarter valued at approximately $171,000. Emerald Advisors LLC increased its position in shares of Apple by 2.4% during the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after acquiring an additional 465 shares during the last quarter. Chico Wealth RIA purchased a new stake in shares of Apple during the first quarter valued at approximately $7,794,000. Finally, Sageworth Trust Co increased its position in shares of Apple by 150.3% during the second quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock valued at $793,000 after acquiring an additional 3,482 shares during the last quarter. Institutional investors own 57.72% 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. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Apple, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Apple wasn’t on the list.
While Apple currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
