Other equities analysts have also recently issued reports about the company. UBS Group started coverage on Apple in a report on Wednesday, September 12th. Maxim Group lifted their price objective on Apple to $221.00 and gave the stock an average rating in a report on Thursday, September 13th. Royal Bank of Canada lifted their price objective on Apple to $250.00 and gave the stock an average rating in a report on Wednesday. Argus lifted their price objective on Apple from $210.00 to $225.00 and gave the stock a buy rating in a report on Friday, June 8th. Finally, BidaskClub raised Apple from a hold rating to a buy rating in a report on Tuesday, May 29th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have issued a buy rating to the stock. Apple currently has an average rating of Buy and an average price target of $220.66.
AAPL stock traded up $5.01 during midday trading on Wednesday, hitting $225.43. 575,109 shares of the stock were exchanged, compared to its average volume of 36,063,280. The stock has a market cap of $1,092.09 billion, a PE ratio of 24.47, a P/E/G ratio of 1.95 and a beta of 1.33. Apple has a fifty-two week low of $150.24 and a fifty-two week high of $229.67. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to analysts’ expectations of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. Apple’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 earnings per share. equities research analysts predict that Apple will post 11.76 earnings per share for the current year.
In other news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total value of $57,749,196.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johny Srouji sold 14,140 shares of Apple stock in a transaction on Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the completion of the sale, the insider now directly owns 68,302 shares of the company’s stock, valued at approximately $14,683,563.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 378,400 shares of company stock valued at $81,052,754. Company insiders own 0.08% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AAPL. Fort L.P. purchased a new stake in Apple during the second quarter valued at about $119,000. Delphi Private Advisors LLC purchased a new stake in Apple during the second quarter valued at about $120,000. Cranbrook Wealth Management LLC grew its position in Apple by 76.1% during the second quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock valued at $129,000 after acquiring an additional 302 shares during the period. Quattro Financial Advisors LLC purchased a new stake in Apple during the first quarter valued at about $133,000. Finally, Smart Portfolios LLC acquired a new position in shares of Apple during the first quarter worth about $134,000. 58.54% of the stock is owned by hedge funds and other institutional investors.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
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