Apple (NASDAQ:AAPL) PT Raised to $236.00

Apple (NASDAQ:AAPL) had its target price raised by research analysts at UBS Group from $190.00 to $236.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the iPhone maker’s stock. UBS Group’s target price indicates a potential upside of 6.12% from the company’s current price.

Several other equities research analysts have also commented on the stock. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their price target for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Maxim Group raised their price target on Apple from $195.00 to $203.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.62.

Apple Price Performance

Apple stock opened at $222.38 on Wednesday. The stock has a market cap of $3.41 trillion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The company has a fifty day simple moving average of $222.89 and a 200-day simple moving average of $196.88. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple has a 12-month low of $164.07 and a 12-month high of $237.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. Equities analysts expect that Apple will post 6.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apple

Institutional investors have recently modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple during the first quarter worth $35,000. Fidelis Capital Partners LLC lifted its holdings in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple in the fourth quarter worth approximately $39,000. Hershey Financial Advisers LLC purchased a new stake in Apple in the second quarter valued at approximately $42,000. Finally, University of Texas Texas AM Investment Managment Co. increased its position in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.