Apple (AAPL) PT Set at $270.00 by Independent Research
Apple (NASDAQ:AAPL) received a $270.00 price objective from investment analysts at Independent Research in a report released on Friday. The firm presently has a “buy” rating on the iPhone maker’s stock. Independent Research’s price target points to a potential upside of 20.62% from the company’s previous close.
Several other research analysts have also weighed in on the stock. Morgan Stanley upped their target price on shares of Apple from $245.00 to $247.00 and gave the stock an “overweight” rating in a research report on Thursday. BMO Capital Markets upgraded shares of Apple to a “market perform” rating and set a $199.00 target price on the stock in a research report on Thursday. Deutsche Bank upped their target price on shares of Apple to $205.00 and gave the stock a “hold” rating in a research report on Thursday. Sanford C. Bernstein restated a “neutral” rating and set a $200.00 target price on shares of Apple in a research report on Thursday. Finally, Goldman Sachs Group restated a “neutral” rating and set a $240.00 target price on shares of Apple in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $217.53.
Shares of Apple stock opened at $223.84 on Friday. Apple has a 52-week low of $149.16 and a 52-week high of $229.67. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,086.59 billion, a PE ratio of 20.04, a PEG ratio of 1.95 and a beta of 1.33.
In other news, insider Johny Srouji sold 14,140 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the completion of the sale, the insider now directly owns 68,302 shares in the company, valued at $14,683,563.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Insiders sold 378,400 shares of company stock valued at $81,052,754 over the last quarter. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Parametrica Management Ltd bought a new position in shares of Apple in the fourth quarter worth $328,000. Trillium Asset Management LLC grew its position in Apple by 11.7% in the fourth quarter. Trillium Asset Management LLC now owns 114,193 shares of the iPhone maker’s stock valued at $19,325,000 after acquiring an additional 11,958 shares during the last quarter. Iberiabank Corp boosted its stake in shares of Apple by 14.5% during the fourth quarter. Iberiabank Corp now owns 54,475 shares of the iPhone maker’s stock valued at $9,328,000 after purchasing an additional 6,913 shares in the last quarter. GenWealth Group Inc. acquired a new stake in shares of Apple during the fourth quarter valued at about $519,000. Finally, Gilbert & Cook Inc. boosted its stake in shares of Apple by 5.3% during the fourth quarter. Gilbert & Cook Inc. now owns 6,477 shares of the iPhone maker’s stock valued at $1,096,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds 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.
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