Apple (NASDAQ:AAPL) Stock Price Expected to Rise, UBS Group Analyst Says

Apple (NASDAQ:AAPL) had its target price lifted by investment analysts at UBS Group from $210.00 to $220.00 in a report issued on Friday, MarketBeat reports. The firm currently has a “neutral” rating on the iPhone maker’s stock. UBS Group’s target price suggests a potential upside of 8.71% from the company’s previous close.

AAPL has been the subject of a number of other reports. Monness Crespi & Hardt upped their price objective on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson upped their price objective on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Citigroup reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, June 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $217.00 price objective on shares of Apple in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.25.

Apple Price Performance

Shares of NASDAQ AAPL opened at $202.38 on Friday. Apple has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.22 and a beta of 1.17. The firm has a 50-day moving average of $205.37 and a two-hundred day moving average of $213.60.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 172.48%. The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the company earned $1.40 EPS. Apple’s revenue was up 9.6% on a year-over-year basis. As a group, analysts expect that Apple will post 7.28 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Several hedge funds and other institutional investors have recently modified their holdings of AAPL. Ryan Investment Management Inc. acquired a new stake in Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC boosted its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Life Planning Partners Inc acquired a new stake in Apple during the fourth quarter worth $47,000. Nexus Investment Management ULC boosted its stake in Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after buying an additional 200 shares in the last quarter. Finally, Elite Financial Inc. acquired a new stake in Apple during the first quarter worth $58,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

About Apple

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.