Macquarie set a $214.00 price target on Apple (NASDAQ:AAPL) in a research report report published on Wednesday. The firm currently has a buy rating on the iPhone maker’s stock.

A number of other research firms also recently weighed in on AAPL. Atlantic Securities restated a neutral rating and issued a $185.00 target price on shares of Apple in a research report on Wednesday, May 2nd. UBS Group set a $210.00 target price on Apple and gave the stock a buy rating in a research report on Wednesday, June 13th. Sanford C. Bernstein restated a neutral rating and issued a $170.00 target price on shares of Apple in a research report on Thursday, April 26th. Royal Bank of Canada restated a buy rating and issued a $210.00 target price on shares of Apple in a research report on Monday, July 9th. Finally, Wells Fargo & Co restated a hold rating and issued a $195.00 target price on shares of Apple in a research report on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $219.51.

NASDAQ:AAPL opened at $217.58 on Wednesday. The company has a market capitalization of $1,020.04 billion, a P/E ratio of 23.62, a PEG ratio of 1.64 and a beta of 1.16. Apple has a 1-year low of $149.16 and a 1-year high of $217.95. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.16. The company had revenue of $53.27 billion during the quarter, compared to the consensus estimate of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. Apple’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 EPS. equities analysts forecast that Apple will post 11.68 EPS for the current fiscal year.

Apple declared that its board has initiated a stock buyback plan on Tuesday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 11.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 13th were paid a dividend of $0.73 per share. The ex-dividend date was Friday, August 10th. This represents a $2.92 annualized dividend and a dividend yield of 1.34%. Apple’s dividend payout ratio (DPR) is presently 31.70%.

In related news, insider Craig Federighi sold 47,796 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $207.50, for a total value of $9,917,670.00. Following the sale, the insider now directly owns 412,571 shares of the company’s stock, valued at $85,608,482.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Angela J. Ahrendts sold 6,568 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $188.81, for a total value of $1,240,104.08. Following the completion of the sale, the insider now directly owns 79,476 shares in the company, valued at $15,005,863.56. The disclosure for this sale can be found here. Insiders have sold 141,066 shares of company stock worth $28,208,138 over the last three months. Insiders own 0.06% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. PICTET BANK & TRUST Ltd boosted its holdings in Apple by 0.5% in the second quarter. PICTET BANK & TRUST Ltd now owns 45,134 shares of the iPhone maker’s stock worth $8,355,000 after acquiring an additional 240 shares in the last quarter. Somerset Group LLC boosted its holdings in Apple by 2.4% in the second quarter. Somerset Group LLC now owns 10,683 shares of the iPhone maker’s stock worth $1,978,000 after acquiring an additional 249 shares in the last quarter. Wsfs Capital Management LLC boosted its holdings in Apple by 2.0% in the second quarter. Wsfs Capital Management LLC now owns 13,051 shares of the iPhone maker’s stock worth $2,416,000 after acquiring an additional 260 shares in the last quarter. Investment Partners LTD. boosted its holdings in Apple by 4.9% in the second quarter. Investment Partners LTD. now owns 5,594 shares of the iPhone maker’s stock worth $1,036,000 after acquiring an additional 263 shares in the last quarter. Finally, Keating Investment Counselors Inc. boosted its holdings in Apple by 8.2% in the second quarter. Keating Investment Counselors Inc. now owns 3,511 shares of the iPhone maker’s stock worth $650,000 after acquiring an additional 266 shares in the last quarter. 60.11% of the stock is currently owned by institutional investors.

About Apple

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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Analyst Recommendations for Apple (NASDAQ:AAPL)

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