Equities research analysts at China Renaissance Securities started coverage on shares of Apple (NASDAQ:AAPL) in a research report issued on Monday, BenzingaRatingsTable reports. The firm set a “buy” rating and a $342.00 price target on the iPhone maker’s stock. China Renaissance Securities’ price objective would suggest a potential upside of 26.33% from the stock’s current price.
Several other brokerages have also recently issued reports on AAPL. JPMorgan Chase & Co. lifted their target price on Apple from $290.00 to $296.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Needham & Company LLC upped their price target on Apple to $280.00 and gave the stock an “average” rating in a report on Thursday, October 31st. New Street Research set a $155.00 price target on Apple and gave the company a “sell” rating in a research report on Tuesday, September 10th. Barclays lifted their price objective on shares of Apple from $224.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Longbow Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $248.97.
Shares of NASDAQ AAPL opened at $270.71 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. The company has a 50-day moving average price of $256.55 and a 200-day moving average price of $218.07. The stock has a market capitalization of $1,202.84 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.96 and a beta of 1.24. Apple has a 1 year low of $142.00 and a 1 year high of $268.25.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.19. The firm had revenue of $64.04 billion during the quarter, compared to analyst estimates of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 EPS. As a group, equities research analysts anticipate that Apple will post 13.18 earnings per share for the current fiscal year.
In other news, insider Chris Kondo sold 3,932 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $233.26, for a total transaction of $917,178.32. Following the completion of the sale, the insider now owns 15,464 shares of the company’s stock, valued at approximately $3,607,132.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 37,394 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the sale, the director now directly owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The disclosure for this sale can be found here. Insiders have sold a total of 182,998 shares of company stock worth $42,351,593 over the last three months. Insiders own 0.05% of the company’s stock.
Large investors have recently modified their holdings of the company. Resources Management Corp CT ADV bought a new stake in Apple during the third quarter valued at about $18,446,000. Maverick Capital Ltd. boosted its holdings in Apple by 6.1% in the 3rd quarter. Maverick Capital Ltd. now owns 62,275 shares of the iPhone maker’s stock worth $13,948,000 after buying an additional 3,555 shares during the period. Man Group plc increased its stake in Apple by 2.5% in the 3rd quarter. Man Group plc now owns 657,885 shares of the iPhone maker’s stock worth $147,338,000 after buying an additional 16,147 shares in the last quarter. Night Owl Capital Management LLC increased its stake in Apple by 126.0% in the 3rd quarter. Night Owl Capital Management LLC now owns 2,725 shares of the iPhone maker’s stock worth $610,000 after buying an additional 1,519 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake in Apple by 28.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 367,063 shares of the iPhone maker’s stock worth $82,211,000 after buying an additional 80,202 shares in the last quarter. Hedge funds and other institutional investors own 59.19% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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