Apple (NASDAQ:AAPL) Earns “Neutral” Rating from Credit Suisse Group
Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Credit Suisse Group in a research note issued to investors on Wednesday, Borsen Zeitung reports. They currently have a $95.00 price target on the iPhone maker’s stock. Credit Suisse Group’s price target points to a potential downside of 17.78% from the company’s current price.
Several other analysts have also recently commented on the stock. Wolfe Research began coverage on shares of Apple in a research note on Friday, July 24th. They issued an “underperform” rating and a $78.75 target price for the company. Barclays boosted their price objective on shares of Apple from $81.50 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Bank of America reissued a “neutral” rating and set a $140.00 price objective (up from $117.50) on shares of Apple in a research note on Tuesday, September 1st. Atlantic Securities reissued a “sell” rating and set a $96.00 price objective on shares of Apple in a research note on Tuesday, September 8th. Finally, Argus raised shares of Apple to a “buy” rating and boosted their price objective for the company from $112.50 to $150.00 in a research note on Monday, August 31st. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $104.95.
NASDAQ:AAPL opened at $115.54 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.43 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average of $115.51 and a two-hundred day moving average of $87.18. The firm has a market cap of $1,999.95 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 3.34 and a beta of 1.28. Apple has a 12 month low of $53.15 and a 12 month high of $137.98.
In other news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $496.91, for a total transaction of $131,760,655.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.05% of the company’s stock.
Several large investors have recently modified their holdings of AAPL. Lountzis Asset Management LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $26,000. GW&K Investment Management LLC bought a new position in Apple during the 2nd quarter worth approximately $36,000. Heard Capital LLC bought a new position in Apple during the 1st quarter worth approximately $51,000. Sofos Investments Inc. boosted its stake in Apple by 16.9% during the 1st quarter. Sofos Investments Inc. now owns 940 shares of the iPhone maker’s stock worth $99,000 after acquiring an additional 136 shares during the last quarter. Finally, Laidlaw Wealth Management LLC boosted its stake in Apple by 113,515.1% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 40,356,072 shares of the iPhone maker’s stock worth $111,000 after acquiring an additional 40,320,552 shares during the last quarter. Institutional investors own 59.65% of the company’s stock.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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