Apple (NASDAQ: AAPL – Get a review) was given a target price of $185.00 by equity researchers at UBS Group in a research note released Thursday to investors, Borsen Zeitung reports. UBS Group’s target price would indicate a potential upside of 29.25% from the current share price.
A number of other stock analysts have also recently released reports on AAPL. Tigress Financial raised its price target on Apple shares from $198.00 to $210.00 and gave the stock a “strong buy” rating in a Tuesday, February 15, report. Canaccord Genuity Group raised its price target on Apple shares from $185.00 to $200.00 and gave the company a “buy” rating in a Friday, Jan. 28 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Apple shares from $210.00 to $200.00 in a Friday, April 29 research note. Bank of America lowered its price target on Apple shares from $215.00 to $200.00 and set a “buy” rating on the stock in a Thursday, May 19 research note. Finally, Robert W. Baird raised his price target on Apple shares from $185.00 to $190.00 in a Friday, January 28 research note. Nine investment analysts gave the stock a hold rating, twenty-five gave the stock a buy rating and one gave the stock a high buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $187.21.
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The NASDAQ AAPL traded at $2.61 during Thursday trading hours, hitting $143.13. The company’s shares had a trading volume of 3,777,025 shares, compared to its average volume of 97,228,867. The company has a current ratio of 0.93, a quick ratio of 0.88 and a indebtedness of 1.53. The company has a 50-day simple moving average of $161.29 and a 200-day simple moving average of $164.93. Apple has a 52-week low of $123.13 and a 52-week high of $182.94. The stock has a market capitalization of $2.32 trillion, a PE ratio of 23.30, a PEG ratio of 1.80 and a beta of 1.19.
Apple (NASDAQ:AAPL – Get Rating) last released its results on Thursday, April 28. The iPhone maker reported earnings per share (EPS) of $1.52 for the quarter, beating analyst consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company posted revenue of $97.28 billion for the quarter, versus $93.99 billion expected by analysts. In the same quarter last year, the company posted earnings per share of $1.40. Apple’s revenue grew 8.6% year over year. As a group, stock analysts predict Apple will post 6.11 EPS for the current year.
Apple said its board on Thursday (April 28) approved a stock repurchase program that allows the company to repurchase $90.00 billion in outstanding stock. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Stock buyback programs are often a sign that a company’s board of directors believes its stock is undervalued.
In related news, SVP Deirdre O’brien sold 8,000 shares of the company in a trade that took place on Monday, April 18. The shares were sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the completion of the sale, the senior vice president now directly owns 136,290 shares of the company, valued at $22,475,583.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Additionally, SVP Katherine L. Adams sold 25,000 shares of the company in a transaction that took place on Wednesday, May 4. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares of the company, valued at approximately $73,151,454.48. The disclosure of this sale can be found here. Insiders sold a total of 168,099 shares of the company worth $29,376,711 during the last quarter. Insiders own 0.06% of the shares of the company.
A number of institutional investors and hedge funds have recently changed their positions in the stock. Ninety One UK Ltd increased its stake in Apple by 3.0% during the first quarter. Ninety One UK Ltd now owns 4,833,196 shares of the iPhone maker worth $843,924,000 after buying a further 139,948 shares in the last quarter. Sutton Place Investors LLC increased its position in Apple shares by 15.0% in the first quarter. Sutton Place Investors LLC now owns 11,984 shares of the iPhone maker valued at $1,939,000 after purchasing an additional 1,560 shares during the period. Genesee Capital Advisors LLC raised its position in Apple shares by 2.6% in the first quarter. Genesee Capital Advisors LLC now owns 52,692 shares of the iPhone maker valued at $9,201,000 after buying an additional 1,352 shares during the period. Midwest Wealth Management Inc. increased its position in Apple by 2.6% during the first quarter. Midwest Wealth Management Inc. now owns 28,322 shares of the iPhone maker worth $4,945,000 after acquiring 708 additional shares during the period. Finally, Bickling Financial Services Inc. increased its position in Apple by 0.8% during the first quarter. Bickling Financial Services Inc. now owns 30,013 shares of the iPhone maker worth $5,241,000 after acquiring 225 additional shares during the period. Institutional investors and hedge funds own 57.98% of the company’s shares.
About Apple (Get an evaluation)
Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.
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