Apple (NASDAQ:AAPL) was upgraded by Maxim Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, May 31st.
Several other equities analysts have also recently commented on AAPL. BMO Capital Markets cut shares of Apple from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $162.00 to $166.00 in a research report on Wednesday, January 31st. Loop Capital reissued a “buy” rating and set a $195.00 target price (down previously from $200.00) on shares of Apple in a research report on Wednesday, January 31st. ValuEngine raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada reissued a “buy” rating and set a $205.00 target price on shares of Apple in a research report on Friday, February 2nd. Finally, Barclays dropped their target price on shares of Apple from $174.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus price target of $205.87.
Apple traded up $0.10, reaching $190.80, during mid-day trading on Thursday, MarketBeat.com reports. 21,583,922 shares of the company traded hands, compared to its average volume of 19,976,752. The company has a market capitalization of $970.30 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.37 and a current ratio of 1.46. Apple has a fifty-two week low of $142.20 and a fifty-two week high of $194.20.
Apple declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other Apple news, insider Philip W. Schiller sold 69,491 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $166.42, for a total transaction of $11,564,692.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel J. Riccio sold 17,375 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $169.12, for a total transaction of $2,938,460.00. Following the sale, the senior vice president now owns 66,191 shares of the company’s stock, valued at $11,194,221.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 272,506 shares of company stock valued at $48,367,350. Company insiders own 0.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jarislowsky Fraser Ltd raised its stake in shares of Apple by 22.4% during the third quarter. Jarislowsky Fraser Ltd now owns 22,515 shares of the iPhone maker’s stock valued at $3,470,000 after acquiring an additional 4,118 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Apple by 1.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,234,364 shares of the iPhone maker’s stock worth $190,240,000 after buying an additional 20,689 shares in the last quarter. Shelton Capital Management raised its stake in Apple by 2.3% in the third quarter. Shelton Capital Management now owns 437,397 shares of the iPhone maker’s stock worth $67,412,000 after buying an additional 9,758 shares in the last quarter. Hikari Power Ltd bought a new position in Apple in the third quarter worth about $208,000. Finally, PFG Advisors bought a new position in Apple in the fourth quarter worth about $330,000. Institutional investors and hedge funds own 58.13% 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.
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.