Apple (NASDAQ:AAPL) PT Set at $177.07 by Fundamental Research

Apple (NASDAQ:AAPLGet Rating) has been given a $177.07 target price by investment analysts at Fundamental Research in a research note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the iPhone maker’s stock. Fundamental Research’s target price would indicate a potential upside of 7.09% from the stock’s current price.

Several other research firms have also recently weighed in on AAPL. Morgan Stanley decreased their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Piper Sandler decreased their price target on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. set a $175.00 price target on shares of Apple in a report on Friday, July 29th. KeyCorp upped their price target on shares of Apple from $173.00 to $177.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Barclays decreased their price target on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.27.

Apple Trading Down 0.1 %

NASDAQ:AAPL opened at $165.35 on Thursday. The company has a market cap of $2.66 trillion, a P/E ratio of 27.29, a P/E/G ratio of 2.15 and a beta of 1.23. The stock’s fifty day moving average price is $146.34 and its two-hundred day moving average price is $157.12. Apple has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. As a group, analysts expect that Apple will post 6.1 EPS for the current year.

Apple announced that its Board of Directors has approved a stock buyback program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Apple

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Livingston Group Asset Management CO operating as Southport Capital Management boosted its holdings in Apple by 77.9% in the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 99,737 shares of the iPhone maker’s stock worth $17,710,000 after acquiring an additional 43,681 shares in the last quarter. Wiser Wealth Management Inc increased its stake in Apple by 16.4% during the 4th quarter. Wiser Wealth Management Inc now owns 5,796 shares of the iPhone maker’s stock valued at $1,029,000 after purchasing an additional 818 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in Apple by 9.7% during the 4th quarter. Hunter Associates Investment Management LLC now owns 188,505 shares of the iPhone maker’s stock valued at $33,473,000 after purchasing an additional 16,651 shares in the last quarter. Single Point Partners LLC purchased a new position in Apple in the fourth quarter worth about $3,757,000. Finally, Buffington Mohr McNeal lifted its stake in shares of Apple by 8.6% in the fourth quarter. Buffington Mohr McNeal now owns 37,218 shares of the iPhone maker’s stock worth $6,609,000 after buying an additional 2,949 shares in the last quarter. 57.98% of the stock is currently owned by hedge funds and other institutional investors.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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