Apple (AAPL) PT Raised to $247.00 at Morgan Stanley
Apple (NASDAQ:AAPL) had its price target increased by Morgan Stanley from $245.00 to $247.00 in a report published on Thursday morning. The brokerage currently has an overweight rating on the iPhone maker’s stock.
AAPL has been the topic of a number of other research reports. BidaskClub lowered Apple from a buy rating to a hold rating in a research note on Friday, June 8th. Wells Fargo & Co restated a neutral rating and set a $210.00 price objective on shares of Apple in a report on Friday, August 10th. Bank of America upped their price objective on Apple from $250.00 to $256.00 and gave the stock a buy rating in a report on Monday, September 10th. BMO Capital Markets upped their price objective on Apple from $171.00 to $184.00 and gave the stock a market perform rating in a report on Monday, July 23rd. Finally, Royal Bank of Canada upped their price objective on Apple to $240.00 and gave the stock an outperform rating in a report on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty have assigned a buy rating to the company’s stock. Apple presently has an average rating of Buy and a consensus price target of $217.53.
Shares of Apple stock opened at $223.84 on Thursday. Apple has a fifty-two week low of $149.16 and a fifty-two week high of $229.67. The firm has a market cap of $1,086.59 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31.
In related news, Director Arthur D. Levinson sold 20,000 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total value of $4,131,600.00. Following the completion of the sale, the director now directly owns 1,153,283 shares in the company, valued at approximately $238,245,202.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 15,652 shares of the firm’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $190.18, for a total value of $2,976,697.36. Following the sale, the chief operating officer now owns 125,258 shares of the company’s stock, valued at $23,821,566.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 378,400 shares of company stock valued at $81,052,754. 0.08% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in AAPL. PICTET BANK & TRUST Ltd lifted its position in shares of Apple by 0.5% during the second quarter. PICTET BANK & TRUST Ltd now owns 45,134 shares of the iPhone maker’s stock worth $8,355,000 after purchasing an additional 240 shares during the last quarter. Somerset Group LLC lifted its position in shares of Apple by 2.4% during the second quarter. Somerset Group LLC now owns 10,683 shares of the iPhone maker’s stock worth $1,978,000 after purchasing an additional 249 shares during the last quarter. Wsfs Capital Management LLC lifted its position in shares of Apple by 2.0% during the second quarter. Wsfs Capital Management LLC now owns 13,051 shares of the iPhone maker’s stock worth $2,416,000 after purchasing an additional 260 shares during the last quarter. Investment Partners LTD. lifted its position in shares of Apple by 4.9% during the second quarter. Investment Partners LTD. now owns 5,594 shares of the iPhone maker’s stock worth $1,036,000 after purchasing an additional 263 shares during the last quarter. Finally, Keating Investment Counselors Inc. lifted its position in shares of Apple by 8.2% during the second quarter. Keating Investment Counselors Inc. now owns 3,511 shares of the iPhone maker’s stock worth $650,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 58.62% of the company’s stock.
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.
Featured Article: Understanding Stock Ratings
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.