Apple (NASDAQ:AAPL) Rating Reiterated by Wedbush
Wedbush restated their outperform rating on shares of Apple (NASDAQ:AAPL) in a research note published on Monday, 24/7 WallStreet reports. Wedbush currently has a $245.00 price target on the iPhone maker’s stock.
Several other equities research analysts have also weighed in on the company. Longbow Research reissued a hold rating on shares of Apple in a report on Monday, August 12th. DA Davidson lifted their price objective on Apple to $270.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Cascend Securities reaffirmed a buy rating and set a $240.00 target price (up previously from $210.00) on shares of Apple in a report on Thursday, June 20th. Citigroup lifted their target price on Apple from $205.00 to $250.00 and gave the company a buy rating in a report on Wednesday, July 31st. Finally, Morgan Stanley set a $247.00 target price on Apple and gave the company a buy rating in a report on Friday, September 6th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Apple presently has a consensus rating of Hold and a consensus target price of $218.82.
Shares of AAPL opened at $223.56 on Monday. The business has a 50-day moving average of $207.16 and a 200 day moving average of $196.48. Apple has a fifty-two week low of $142.00 and a fifty-two week high of $233.47. The firm has a market cap of $967.87 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.77 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a yield of 1.38%. Apple’s payout ratio is 25.86%.
In related news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. Insiders sold a total of 304,536 shares of company stock valued at $62,894,611 in the last 90 days. 0.05% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. increased its stake in Apple by 17.9% in the 1st quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after purchasing an additional 1,262 shares during the period. Semmax Financial Advisors Inc. purchased a new position in Apple in the 4th quarter worth approximately $50,000. Avondale Wealth Management increased its stake in Apple by 25.4% in the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after purchasing an additional 64 shares during the period. NuWave Investment Management LLC increased its stake in Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 449 shares during the period. Finally, Horan Securities Inc. increased its stake in Apple by 64.2% in the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after purchasing an additional 221 shares during the period. Institutional investors own 58.77% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
Further Reading: Return on Investment (ROI)
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