Apple (NASDAQ: AAPL – Get a review) received a target price of $195.00 from Morgan Stanley equity analysts in a research report released Friday, Borsen Zeitung reports. Morgan Stanley’s price target indicates upside potential of 33.64% from the stock’s previous close.
AAPL has been the subject of a number of other reports. Evercore ISI began covering Apple in a research report on Friday, March 25. They set a “buy” rating and a price target of $210.00 for the company. Tigress Financial raised its price target on Apple from $198.00 to $210.00 and gave the stock a “Strong Buy” rating in a Tuesday, February 15 research report. Fundamental Research cut its price target on Apple from $179.32 to $175.24 and set an “average” rating for the company in a Friday, May 6 research report. Rosenblatt Securities lowered its price target on Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a Monday, May 2 research report. Finally, JPMorgan Chase & Co. lowered its price target on Apple from $205.00 to $200.00 in a Friday, April 29 research report. Nine equity research analysts gave the stock a hold rating, twenty-five issued a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $187.21.
NASDAQ: AAPL traded at $5.30 at midday on Friday, reaching $145.91. 2,994,518 shares were traded, against an average volume of 107,752,464. The company has a 50-day simple moving average of $159.00 and a 200-day simple moving average of $164.89. The stock has a market capitalization of $2.36 trillion, a P/E ratio of 23.67, a P/E/G ratio of 1.95 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt ratio of 1.53. Apple has a 1-year low of $123.13 and a 1-year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly 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 return on equity of 152.88% and a net margin of 26.41%. The company posted revenue of $97.28 billion for the quarter, versus a consensus estimate of $93.99 billion. In the same quarter last year, the company posted EPS of $1.40. The company’s quarterly revenue increased by 8.6% compared to the same quarter last year. As a group, research analysts predict that Apple will post EPS of 6.11 for the current year.
Apple announced that its board of directors on Thursday (April 28th) approved a stock repurchase plan that allows the company to repurchase $90.00 billion in stock. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Stock buyback plans are usually an indication that a company’s management believes its stock is undervalued.
In related news, SVP Deirdre O’brien sold 8,000 Apple shares in a trade on Monday, April 18. The stock was sold at an average price of $164.91, for a total value of $1,319,280.00. Following the transaction, the senior vice president now owns 136,290 shares of the company, valued at $22,475,583.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, SVP Katherine L. Adams sold 25,000 Apple shares in a trade on Wednesday, May 4. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following completion of the transaction, the Senior Vice President now owns 452,334 shares of the company, valued at approximately $73,151,454.48. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 168,099 shares of the company valued at $29,376,711. Insiders of the company own 0.06% of the shares of the company.
A number of institutional investors have recently shifted their holdings in AAPL. Dark Forest Capital Management LP acquired a new position in Apple stock during the third quarter worth approximately $29,000. Cardinal Capital Management Inc. increased its stake in Apple shares by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker worth $39,000 after buying 221 more shares in the last quarter. Shore Point Advisors LLC acquired a new position in Apple stock in the fourth quarter worth about $41,000. CFS Investment Advisory Services LLC increased its stake in Apple shares by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker worth $47,000 after acquiring 7,416,445 additional shares in the last quarter. Finally, HBC Financial Services PLLC increased its stake in Apple shares by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker worth $49,000 after acquiring 80 more shares in the last quarter. Hedge funds and other institutional investors hold 57.98% of the company’s shares.
About Apple (Get a rating)
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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