Evercore ISI Increases Apple (NASDAQ:AAPL) Price Target to $190.00

Apple (NASDAQ:AAPLGet Rating) had its price target increased by Evercore ISI from $185.00 to $190.00 in a research report released on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the iPhone maker’s stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group reissued a neutral rating and set a $139.00 target price on shares of Apple in a report on Thursday, September 8th. Oppenheimer reaffirmed an outperform rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Bank of America decreased their price objective on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Morgan Stanley decreased their price objective on Apple from $185.00 to $180.00 and set an overweight rating on the stock in a report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. set a $200.00 price objective on Apple in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has an average rating of Moderate Buy and an average price target of $181.68.

Apple Trading Up 1.6 %

Shares of Apple stock opened at $156.90 on Tuesday. Apple has a 12-month low of $129.04 and a 12-month high of $182.94. The stock has a market cap of $2.52 trillion, a P/E ratio of 25.89, a P/E/G ratio of 1.95 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average is $159.84 and its 200-day moving average is $155.88.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. Equities research analysts predict that Apple will post 6.11 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Hedge funds have recently bought and sold shares of the business. Bluestem Financial Advisors LLC grew its position in shares of Apple by 5,935.2% in the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 229,929 shares in the last quarter. Cardinal Capital Management Inc. grew its position in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new position in Apple during the fourth quarter worth about $41,000. CFS Investment Advisory Services LLC grew its position in Apple by 18,263.5% during the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after buying an additional 7,416,445 shares in the last quarter. Finally, Spence Asset Management purchased a new position in Apple during the second quarter worth about $49,000. 57.72% of the stock is currently owned by institutional investors.

About Apple

(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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