Apple (NASDAQ:AAPL) Given New $195.00 Price Target at Piper Sandler

Apple (NASDAQ:AAPL – Get Rating) had its target price reduced by equities researchers at Piper Sandler from $200.00 to $195.00 in a report issued on Friday, The Fly reports. Piper Sandler’s price target would suggest a potential upside of 19.16% from the company’s current price.

Several other research firms have also weighed in on AAPL. Cowen increased their price target on Apple from $180.00 to $200.00 in a report on Friday, January 28th. The Goldman Sachs Group set a $161.00 price target on Apple in a report on Wednesday. Wells Fargo & Company increased their price target on Apple from $165.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, January 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Apple from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, January 28th. Finally, Barclays set a $170.00 price objective on Apple in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $189.80.

Shares of AAPL opened at $163.64 on Friday. The stock has a market capitalization of $2.67 trillion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. Apple has a 1 year low of $122.25 and a 1 year high of $182.94. The business’s 50 day simple moving average is $165.89 and its 200-day simple moving average is $164.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.04 and a quick ratio of 1.00.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.09. Apple had a return on equity of 149.81% and a net margin of 26.58%. The company had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. Apple’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Apple will post 6.16 earnings per share for the current year.

In other Apple news, Director Arthur D. Levinson sold 1,986 shares of the stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $173.29, for a total value of $344,153.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 105,901 shares of the stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $177.75, for a total value of $18,823,902.75. Following the completion of the sale, the chief operating officer now owns 489,662 shares of the company’s stock, valued at $87,037,420.50. The disclosure for this sale can be found here. Insiders have sold a total of 170,085 shares of company stock valued at $30,047,365 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in AAPL. Daniels&Tansey LLP increased its holdings in shares of Apple by 1.6% during the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after buying an additional 60 shares during the last quarter. Donald L. Hagan LLC increased its stake in Apple by 0.3% during the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after acquiring an additional 61 shares during the last quarter. Goodwin Daniel L raised its holdings in shares of Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares during the period. Opus Capital Group LLC lifted its stake in shares of Apple by 0.3% in the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after purchasing an additional 63 shares in the last quarter. Finally, Norwood Financial Corp grew its holdings in shares of Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares during the period. Institutional investors own 57.98% of the company’s stock.

Apple Company Profile (Get Rating)

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.

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