Apple (NASDAQ:AAPL) had its target price boosted by Wells Fargo & Company from $165.00 to $205.00 in a report issued on Friday, The Fly reports. Wells Fargo & Company’s price target indicates a potential upside of 24.61% from the stock’s previous close.
AAPL has been the subject of several other research reports. Morgan Stanley boosted their price objective on Apple from $164.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, December 7th. Robert W. Baird restated a “buy” rating and set a $169.00 price objective on shares of Apple in a report on Friday, October 29th. UBS Group restated a “buy” rating and set a $175.00 price objective on shares of Apple in a report on Wednesday. Credit Suisse Group initiated coverage on Apple in a research report on Friday, October 29th. They set a “neutral” rating and a $150.00 target price on the stock. Finally, Wedbush raised Apple to an “outperform” rating and lifted their target price for the company from $185.00 to $200.00 in a research report on Thursday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Buy” and a consensus target price of $178.77.
Shares of AAPL stock opened at $164.51 on Friday. The company has a market cap of $2.69 trillion, a P/E ratio of 29.27, a PEG ratio of 2.33 and a beta of 1.20. The stock has a 50 day simple moving average of $169.37 and a two-hundred day simple moving average of $154.96. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.02 and a current ratio of 1.07. Apple has a fifty-two week low of $116.21 and a fifty-two week high of $182.94.
Apple (NASDAQ:AAPL) last issued its earnings results on Wednesday, October 27th. The iPhone maker reported $1.24 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.24. The business had revenue of $83.40 billion during the quarter, compared to the consensus estimate of $84.94 billion. Apple had a return on equity of 144.13% and a net margin of 25.88%. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. On average, research analysts predict that Apple will post 5.82 earnings per share for the current year.
In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $148.68, for a total transaction of $3,717,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 9,005 shares of the business’s stock in a transaction on Friday, November 12th. The shares were sold at an average price of $150.00, for a total value of $1,350,750.00. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in AAPL. OLD Mission Capital LLC bought a new position in Apple in the 3rd quarter worth about $1,238,000. Meitav Dash Investments Ltd. increased its stake in Apple by 68.6% in the 2nd quarter. Meitav Dash Investments Ltd. now owns 583,160 shares of the iPhone maker’s stock worth $79,861,000 after acquiring an additional 237,361 shares during the last quarter. Ibex Investors LLC bought a new position in Apple in the 2nd quarter worth about $1,808,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Apple by 11.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,108,105 shares of the iPhone maker’s stock worth $425,686,000 after purchasing an additional 317,253 shares in the last quarter. Finally, Coastal Bridge Advisors LLC boosted its holdings in shares of Apple by 8.4% in the 2nd quarter. Coastal Bridge Advisors LLC now owns 61,221 shares of the iPhone maker’s stock worth $8,385,000 after purchasing an additional 4,727 shares in the last quarter. Institutional investors own 56.49% of the company’s stock.
About Apple
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.