Apple (NASDAQ:AAPL) had its price objective lifted by investment analysts at Nomura from $175.00 to $180.00 in a report released on Friday, MarketBeat.com reports. The brokerage currently has a “neutral” rating on the iPhone maker’s stock. Nomura’s target price points to a potential downside of 11.15% from the company’s current price.
AAPL has been the subject of a number of other research reports. Credit Suisse Group set a $5.00 price objective on shares of Maxar Technologies and gave the company a “sell” rating in a research report on Monday, July 15th. Bank of America reissued a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st. Daiwa Capital Markets set a $212.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, June 5th. New Street Research downgraded shares of Apple from a “neutral” rating to a “sell” rating and set a $170.00 price objective for the company. in a research report on Friday, April 12th. Finally, Citigroup set a $73.00 price objective on shares of Esperion Therapeutics and gave the company a “buy” rating in a research report on Tuesday, May 28th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Apple presently has a consensus rating of “Hold” and an average price target of $210.82.
Shares of AAPL stock opened at $202.59 on Friday. Apple has a 1 year low of $142.00 and a 1 year high of $233.47. The company’s fifty day simple moving average is $196.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32. The company has a market cap of $932.13 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.23.
Apple declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 30th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
In related news, COO Jeffrey E. Williams sold 56,411 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the completion of the transaction, the chief operating officer now directly owns 151,187 shares of the company’s stock, valued at $31,803,697.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total value of $7,380,100.00. Following the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at $246,344,153.38. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Semmax Financial Advisors Inc. bought a new stake in shares of Apple in the 4th quarter valued at approximately $50,000. NuWave Investment Management LLC lifted its stake in shares of Apple by 2,245.0% in the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in shares of Apple by 30.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after purchasing an additional 144 shares during the last quarter. INR Advisory Services LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $124,000. Finally, CKW Financial Group lifted its stake in shares of Apple by 15.0% in the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after purchasing an additional 105 shares during the last quarter. 58.51% of the stock is owned by institutional investors.
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.
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