Apple (NASDAQ:AAPL – Get Rating) received a $157.00 target price from The Goldman Sachs Group in a research report issued to clients and investors on Friday, Borsen Zeitung reports. The Goldman Sachs Group’s price target suggests a potential upside of 7.60% from the company’s previous close.
A number of other research analysts have also recently issued reports on the stock. Deutsche Bank Rese… set a $210.00 price target on shares of Apple in a report on Friday, April 8th. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a report on Monday, May 2nd. Barclays set a $170.00 target price on shares of Apple in a report on Wednesday, April 27th. Evercore ISI started coverage on shares of Apple in a report on Friday, March 25th. They set a “buy” rating and a $210.00 target price for the company. Finally, Bank of America reduced their target price on shares of Apple from $215.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Buy” and an average price target of $187.21.
Shares of NASDAQ AAPL traded down $5.30 during midday trading on Friday, reaching $145.91. The company had a trading volume of 2,994,518 shares, compared to its average volume of 107,752,464. The business’s 50-day simple moving average is $159.00 and its 200 day simple moving average is $164.89. The stock has a market cap of $2.36 trillion, a P/E ratio of 23.67, a P/E/G ratio of 1.95 and a beta of 1.20. Apple has a 1 year low of $123.13 and a 1 year high of $182.94. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.
Apple declared that its board has authorized a share repurchase program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the transaction, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 29,198 shares of the business’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $177.77, for a total transaction of $5,190,528.46. Following the completion of the transaction, the senior vice president now owns 136,290 shares in the company, valued at $24,228,273.30. The disclosure for this sale can be found here. Insiders have sold 168,099 shares of company stock worth $29,376,711 over the last 90 days. 0.06% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Fountainhead AM LLC raised its stake in shares of Apple by 11.6% in the 4th quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after acquiring an additional 4,738 shares during the period. Primoris Wealth Advisors LLC acquired a new position in Apple during the 4th quarter worth approximately $4,282,000. Stegent Equity Advisors Inc. acquired a new position in Apple during the 4th quarter worth approximately $2,588,000. Keebeck Alpha LP grew its holdings in Apple by 35.6% during the 4th quarter. Keebeck Alpha LP now owns 13,455 shares of the iPhone maker’s stock worth $2,389,000 after acquiring an additional 3,534 shares in the last quarter. Finally, West Bancorporation Inc. acquired a new position in shares of Apple in the 4th quarter valued at $1,688,000. 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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