UBS Group set a $175.00 price target on Apple (NASDAQ:AAPL) in a research note published on Monday, Borsen Zeitung reports.
AAPL has been the subject of several other reports. Sanford C. Bernstein restated a hold rating and set a $132.00 price objective on shares of Apple in a research report on Tuesday, August 10th. Wells Fargo & Company upgraded shares of Apple to an overweight rating and raised their price objective for the stock from $160.00 to $165.00 in a research report on Wednesday, July 28th. Morgan Stanley raised their price objective on shares of Apple from $166.00 to $168.00 and gave the stock an overweight rating in a research report on Wednesday, July 28th. New Street Research cut shares of Apple from a neutral rating to a sell rating and set a $90.00 price objective for the company. in a research report on Friday, May 28th. Finally, Credit Suisse Group set a $146.17 price objective on shares of Apple in a research report on Tuesday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $160.88.
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Shares of NASDAQ AAPL opened at $149.55 on Monday. The firm has a 50-day simple moving average of $148.20 and a 200-day simple moving average of $134.94. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 1.65. Apple has a 52 week low of $103.10 and a 52 week high of $157.26.
Apple (NASDAQ:AAPL) last issued its earnings results on Monday, July 26th. The iPhone maker reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.29. The business had revenue of $81.40 billion during the quarter, compared to analysts’ expectations of $73.48 billion. Apple had a net margin of 25.00% and a return on equity of 131.01%. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, equities research analysts expect that Apple will post 5.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Monday, August 9th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, August 6th. This represents a $0.88 dividend on an annualized basis and a yield of 0.59%. Apple’s payout ratio is currently 26.83%.
In other Apple news, CEO Timothy D. Cook sold 2,386,440 shares of the business’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $148.58, for a total value of $354,577,255.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 17,000 shares of the business’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $145.89, for a total transaction of $2,480,130.00. Following the completion of the transaction, the senior vice president now directly owns 324,164 shares in the company, valued at $47,292,285.96. The disclosure for this sale can be found here. Insiders sold a total of 2,418,317 shares of company stock worth $359,229,278 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in AAPL. Amundi purchased a new stake in shares of Apple during the 2nd quarter worth $5,528,240,000. Vanguard Group Inc. boosted its position in shares of Apple by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,264,936,543 shares of the iPhone maker’s stock worth $173,245,709,000 after purchasing an additional 25,553,808 shares in the last quarter. Liberty Wealth Management LLC boosted its position in shares of Apple by 13,998.4% during the 2nd quarter. Liberty Wealth Management LLC now owns 25,320,849 shares of the iPhone maker’s stock worth $184,697,000 after purchasing an additional 25,141,248 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Apple by 515.0% during the 2nd quarter. Macquarie Group Ltd. now owns 15,285,356 shares of the iPhone maker’s stock worth $2,093,483,000 after purchasing an additional 12,799,829 shares in the last quarter. Finally, H&H International Investment LLC boosted its position in shares of Apple by 25.6% during the 1st quarter. H&H International Investment LLC now owns 35,288,200 shares of the iPhone maker’s stock worth $4,310,454,000 after purchasing an additional 7,186,900 shares in the last quarter. 56.38% of the stock is currently owned by institutional investors.
About Apple
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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