Apple Inc. (NASDAQ:AAPL) Receives $308.74 Consensus Target Price from Analysts

Shares of Apple Inc. (NASDAQ:AAPL) have been given an average recommendation of “Moderate Buy” by the thirty-five research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $308.7429.

Several brokerages recently issued reports on AAPL. Morgan Stanley reissued an “overweight” rating and set a $330.00 price objective (up from $315.00) on shares of Apple in a research note on Friday, May 1st. Robert W. Baird set a $310.00 price target on Apple in a report on Friday, May 1st. Bank of America increased their price target on Apple from $320.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Evercore reaffirmed an “outperform” rating and issued a $365.00 price objective on shares of Apple in a research report on Thursday, May 14th. Finally, Monness Crespi & Hardt upped their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Apple Trading Up 1.3%

Shares of Apple stock opened at $308.82 on Wednesday. Apple has a 1 year low of $193.46 and a 1 year high of $311.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The business has a 50 day moving average price of $269.64 and a 200 day moving average price of $268.63. The company has a market capitalization of $4.54 trillion, a P/E ratio of 37.34, a P/E/G ratio of 2.66 and a beta of 1.06.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. Sell-side analysts anticipate that Apple will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is currently 13.06%.

Insider Activity at Apple

In related news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 in the last ninety days. 0.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apple

A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. Norges Bank purchased a new position in shares of Apple in the fourth quarter worth approximately $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple during the 1st quarter worth $17,472,482,000. Cardano Risk Management B.V. lifted its stake in shares of Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.