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.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.16. Apple had a net margin of 21.98% and a return on equity of 43.50%. The business had revenue of $53.27 billion for the quarter, compared to analyst estimates of $52.43 billion. During the same period in the previous year, the business posted $1.67 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. equities analysts anticipate that Apple will post 11.76 earnings per share for the current fiscal year.

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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