Analysts Set Apple Inc. (NASDAQ:AAPL) Target Price at $291.70

Shares of Apple Inc. (NASDAQ:AAPLGet Free Report) have earned an average recommendation of “Moderate Buy” from the thirty-six ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $292.1277.

AAPL has been the topic of a number of research analyst reports. Stephens set a $315.00 price target on Apple in a report on Monday, January 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $330.00 target price on shares of Apple in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a report on Monday, December 29th. Bank of America boosted their price objective on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Rosenblatt Securities lifted their target price on shares of Apple from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th.

Check Out Our Latest Report on AAPL

Institutional Investors Weigh In On Apple

A number of hedge funds have recently modified their holdings of AAPL. Premier Private Wealth Management LLC bought a new position in Apple in the 4th quarter worth $2,459,000. Marest Capital LLC increased its position in Apple by 4.6% in the fourth quarter. Marest Capital LLC now owns 24,745 shares of the iPhone maker’s stock worth $6,727,000 after buying an additional 1,095 shares in the last quarter. Stirlingshire Investments Inc. bought a new position in shares of Apple in the fourth quarter worth about $1,783,000. CSM Advisors LLC lifted its position in shares of Apple by 1.1% during the 4th quarter. CSM Advisors LLC now owns 142,832 shares of the iPhone maker’s stock valued at $38,830,000 after buying an additional 1,569 shares in the last quarter. Finally, Cornerstone Advisors Asset Management LLC lifted its position in shares of Apple by 29.7% during the 4th quarter. Cornerstone Advisors Asset Management LLC now owns 9,172 shares of the iPhone maker’s stock valued at $2,493,000 after buying an additional 2,103 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Up 0.7%

Shares of Apple stock opened at $275.50 on Monday. The company has a 50-day simple moving average of $267.46 and a two-hundred day simple moving average of $255.17. The stock has a market capitalization of $4.04 trillion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.44 and a beta of 1.09. Apple has a 52-week low of $169.21 and a 52-week high of $288.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.94 and a current ratio of 0.97.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings data on Thursday, January 29th. The iPhone maker reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.17. Apple had a net margin of 27.04% and a return on equity of 159.94%. The company had revenue of $143.76 billion during the quarter, compared to analyst estimates of $138.25 billion. During the same period in the previous year, the business earned $2.40 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts anticipate that Apple will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Stockholders of record on Monday, February 9th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 13.15%.

Apple News Roundup

Here are the key news stories impacting Apple this week:

Apple Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Apple (NASDAQ:AAPL)

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