JPMorgan Chase & Co. Issues Positive Forecast for Apple (NASDAQ:AAPL) Stock Price

Apple (NASDAQ:AAPLFree Report) had its price objective lifted by JPMorgan Chase & Co. from $305.00 to $315.00 in a research report report published on Monday morning, MarketBeat.com reports. The firm currently has an overweight rating on the iPhone maker’s stock.

Other equities analysts have also issued research reports about the company. Bank of America upped their target price on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a research report on Monday, December 29th. Wells Fargo & Company set a $300.00 price objective on shares of Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Robert W. Baird set a $300.00 target price on shares of Apple in a research note on Friday, October 31st. Finally, Loop Capital reiterated a “buy” rating and issued a $325.00 target price (up from $315.00) on shares of Apple in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.80.

View Our Latest Report on AAPL

Apple Stock Up 3.0%

Shares of NASDAQ AAPL opened at $255.41 on Monday. Apple has a 12-month low of $169.21 and a 12-month high of $288.62. The stock has a market cap of $3.75 trillion, a PE ratio of 34.19, a P/E/G ratio of 2.31 and a beta of 1.09. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average of $269.21 and a 200 day moving average of $250.65.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. As a group, sell-side analysts predict that Apple will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the sale, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. The trade was a 19.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apple

A number of hedge funds have recently bought and sold shares of AAPL. Sellwood Investment Partners LLC boosted its holdings in Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC raised its holdings 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 purchasing an additional 180 shares in the last quarter. Nexus Investment Management ULC lifted its position in shares of Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after buying an additional 200 shares during the last quarter. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at $65,000. Finally, PayPay Securities Corp grew its position in shares of Apple by 52.1% in the 4th quarter. PayPay Securities Corp now owns 365 shares of the iPhone maker’s stock valued at $99,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

Apple Company Profile

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Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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