Apple (NASDAQ:AAPL) Shares Up 1.1% Following Analyst Upgrade

Apple Inc. (NASDAQ:AAPL)’s stock price rose 1.1% during trading on Wednesday after Evercore ISI raised their price target on the stock from $260.00 to $275.00. Evercore ISI currently has an outperform rating on the stock. Apple traded as high as $218.76 and last traded at $215.10. Approximately 14,029,188 shares changed hands during trading, a decline of 73% from the average daily volume of 52,733,532 shares. The stock had previously closed at $212.69.

Other equities analysts have also issued reports about the stock. Bank of America raised their target price on shares of Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. Monness Crespi & Hardt raised their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein lifted their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Redburn Partners set a $230.00 price target on shares of Apple in a report on Friday, January 31st. Finally, Barclays lifted their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

Institutional Trading of Apple

Hedge funds and other institutional investors have recently bought and sold shares of the business. Drystone LLC bought a new stake in Apple during the 4th quarter valued at $25,000. Bull Oak Capital LLC increased its stake in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Life Planning Partners Inc bought a new stake in Apple during the 4th quarter valued at $47,000. Conquis Financial LLC bought a new stake in Apple during the 4th quarter valued at $63,000. Finally, LSV Asset Management bought a new stake in shares of Apple in the 4th quarter worth $65,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $3.23 trillion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company’s 50 day moving average price is $232.76 and its 200-day moving average price is $233.47.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.

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.