Morgan Stanley Boosts Apple (NASDAQ:AAPL) Price Target to $158.00


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Apple (NASDAQ:AAPL) had its price target increased by Morgan Stanley from $157.00 to $158.00 in a research report released on Monday, Analyst Price Targets reports. They currently have an overweight rating on the iPhone maker’s stock.

A number of other brokerages have also recently commented on AAPL. Royal Bank of Canada reaffirmed a buy rating and set a $171.00 price target (up previously from $154.00) on shares of Apple in a research report on Monday, February 8th. Credit Suisse Group increased their price objective on shares of Apple from $120.00 to $140.00 and gave the stock a neutral rating in a research report on Thursday, January 28th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft set a $160.00 price objective on shares of Apple and gave the stock a buy rating in a research report on Monday, February 15th. UBS Group set a $142.00 price objective on shares of Apple and gave the stock a buy rating in a research report on Monday, April 12th. Finally, Canaccord Genuity increased their price objective on shares of Apple from $150.00 to $155.00 and gave the stock a buy rating in a research report on Thursday, January 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $136.80.

Shares of Apple stock opened at $131.94 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.36 and a debt-to-equity ratio of 1.51. Apple has a twelve month low of $68.72 and a twelve month high of $145.09. The stock has a market cap of $2.22 trillion, a price-to-earnings ratio of 40.47, a P/E/G ratio of 2.75 and a beta of 1.28. The company’s fifty day moving average is $125.10 and its 200 day moving average is $125.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, January 26th. The iPhone maker reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.27. The business had revenue of $111.40 billion for the quarter, compared to analysts’ expectations of $103.24 billion. Apple had a net margin of 20.91% and a return on equity of 75.15%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. As a group, equities analysts anticipate that Apple will post 4.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 11th. Stockholders of record on Monday, February 8th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.82 annualized dividend and a dividend yield of 0.62%. Apple’s payout ratio is currently 25.00%.

In other news, COO Jeffrey E. Williams sold 133,867 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $125.74, for a total transaction of $16,832,436.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 18,216 shares of the firm’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $134.01, for a total transaction of $2,441,126.16. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Apple in the 4th quarter valued at $22,236,319,000. Morgan Stanley boosted its holdings in Apple by 283.3% in the 3rd quarter. Morgan Stanley now owns 124,613,848 shares of the iPhone maker’s stock valued at $14,431,530,000 after purchasing an additional 92,101,156 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Apple by 296.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 78,699,382 shares of the iPhone maker’s stock valued at $9,114,176,000 after purchasing an additional 58,823,499 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in Apple by 301.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 66,313,487 shares of the iPhone maker’s stock valued at $7,679,765,000 after purchasing an additional 49,792,917 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Apple by 295.0% in the 3rd quarter. California State Teachers Retirement System now owns 31,952,749 shares of the iPhone maker’s stock valued at $3,700,448,000 after purchasing an additional 23,862,787 shares during the period. 57.77% of the stock is owned by institutional investors.

About Apple

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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