Several brokerages have updated their recommendations and price targets on shares of Apple (NASDAQ: AAPL) in the last few weeks:
- 7/1/2024 – Apple had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $190.00 price target on the stock.
- 7/1/2024 – Apple had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $220.00 price target on the stock.
- 6/28/2024 – Apple had its price target raised by analysts at Oppenheimer Holdings Inc. from $200.00 to $250.00. They now have an “outperform” rating on the stock.
- 6/26/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $230.00 price target on the stock.
- 6/26/2024 – Apple was upgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating. They now have a $260.00 price target on the stock, up previously from $196.00.
- 6/25/2024 – Apple had its price target raised by analysts at Evercore ISI from $220.00 to $250.00. They now have an “outperform” rating on the stock.
- 6/25/2024 – Apple had its price target raised by analysts at Maxim Group from $178.00 to $195.00. They now have a “hold” rating on the stock.
- 6/24/2024 – Apple had its price target raised by analysts at Melius Research from $227.00 to $260.00. They now have a “buy” rating on the stock.
- 6/21/2024 – Apple had its price target raised by analysts at Sanford C. Bernstein from $195.00 to $240.00. They now have an “outperform” rating on the stock.
- 6/18/2024 – Apple had its price target raised by analysts at JPMorgan Chase & Co. from $225.00 to $245.00. They now have an “overweight” rating on the stock.
- 6/14/2024 – Apple was upgraded by analysts at Erste Group Bank AG from a “hold” rating to a “buy” rating.
- 6/12/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $230.00 price target on the stock.
- 6/11/2024 – Apple had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $164.00 price target on the stock.
- 6/11/2024 – Apple had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $225.00 price target on the stock.
- 6/11/2024 – Apple had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $216.00 price target on the stock.
- 6/11/2024 – Apple had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $196.00 price target on the stock.
- 6/11/2024 – Apple had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $190.00 price target on the stock.
- 6/11/2024 – Apple had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $220.00 price target on the stock.
- 6/11/2024 – Apple was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $230.00 price target on the stock, up previously from $200.00.
- 6/6/2024 – Apple had its “buy” rating reaffirmed by analysts at Monness Crespi & Hardt. They now have a $205.00 price target on the stock.
- 6/4/2024 – Apple had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $216.00 price target on the stock.
- 5/30/2024 – Apple had its price target raised by analysts at Tigress Financial from $240.00 to $245.00. They now have a “strong-buy” rating on the stock.
- 5/29/2024 – Apple had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $230.00 price target on the stock.
- 5/24/2024 – Apple had its price target raised by analysts at Wedbush from $250.00 to $275.00. They now have an “outperform” rating on the stock.
- 5/13/2024 – Apple had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $250.00 price target on the stock.
Apple Trading Up 0.6 %
AAPL traded up $1.28 on Thursday, hitting $221.55. The company had a trading volume of 37,369,801 shares, compared to its average volume of 87,244,072. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $221.55. The business’s fifty day simple moving average is $194.21 and its 200 day simple moving average is $185.60. The company has a market cap of $3.40 trillion, a PE ratio of 34.46, a PEG ratio of 2.68 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 6.59 EPS for the current year.
Apple Increases Dividend
Insider Activity at Apple
In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,355 shares of company stock worth $34,771,329. Company insiders own 0.06% of the company’s stock.
Hedge Funds Weigh In On Apple
A number of large investors have recently made changes to their positions in the business. Flagstone Financial Management increased its position in shares of Apple by 0.9% during the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 56 shares in the last quarter. Hoese & Co LLP increased its position in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. High Pines Wealth Management LLC increased its position in shares of Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares during the period. Asset Planning Corporation increased its position in shares of Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after acquiring an additional 59 shares during the period. Finally, Columbus Macro LLC increased its position in shares of Apple by 0.5% in the 4th quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after acquiring an additional 59 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.
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