Apple (NASDAQ:AAPL) PT Raised to $215.00

Apple (NASDAQ:AAPL) had its price objective lifted by investment analysts at Canaccord Genuity Group from $200.00 to $215.00 in a report released on Saturday, Stock Target Advisor reports. The firm presently has a “buy” rating on the iPhone maker’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 17.24% from the stock’s current price.

A number of other brokerages have also recently weighed in on AAPL. Morgan Stanley raised their price target on Apple from $210.00 to $216.00 and gave the company an “overweight” rating in a research report on Friday. Monness Crespi & Hardt lifted their target price on shares of Apple from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group upped their price target on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. UBS Group reissued a “hold” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, March 25th. Finally, Robert W. Baird upped their target price on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.00.

Apple Stock Up 6.0 %

AAPL stock opened at $183.38 on Friday. Apple has a 52 week low of $164.07 and a 52 week high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.83 trillion, a P/E ratio of 28.56, a P/E/G ratio of 2.05 and a beta of 1.26. The company’s 50-day moving average price is $172.15 and its 200 day moving average price is $181.57.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts expect that Apple will post 6.53 earnings per share for the current fiscal year.

Apple announced that its board has initiated a share repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after buying an additional 18,067,216 shares in the last quarter. Morgan Stanley grew its holdings in Apple by 1.0% during the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after acquiring an additional 2,018,010 shares in the last quarter. Norges Bank bought a new stake in shares of Apple in the 4th quarter worth about $33,912,466,000. International Assets Investment Management LLC raised its stake in shares of Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after purchasing an additional 70,212,651 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after purchasing an additional 2,096,360 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Company Profile

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.