Apple (NASDAQ:AAPL) had its price objective hoisted by Loop Capital to $250.00 in a research note issued to investors on Thursday, October 31st, The Fly reports. The firm presently has a “hold” rating on the iPhone maker’s stock. Loop Capital’s target price would suggest a potential downside of 3.90% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, October 29th. They noted that the move was a valuation call. Bank of America lifted their price objective on Apple from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Monness Crespi & Hardt lifted their price objective on Apple from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group lifted their price objective on Apple from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, BidaskClub raised Apple from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 27th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Apple presently has a consensus rating of “Hold” and an average price target of $239.51.
Shares of AAPL stock traded up $0.71 during trading on Thursday, hitting $260.14. The company had a trading volume of 17,496,500 shares, compared to its average volume of 28,496,354. The stock’s 50-day moving average is $235.37 and its two-hundred day moving average is $209.53. The stock has a market capitalization of $1,142.50 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. Apple has a 52 week low of $142.00 and a 52 week high of $260.44. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01.
In other Apple news, SVP Deirdre O’brien sold 12,459 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $234.04, for a total value of $2,915,904.36. Following the completion of the sale, the senior vice president now directly owns 57,819 shares in the company, valued at approximately $13,531,958.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 37,394 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total value of $9,639,799.26. Following the completion of the sale, the director now owns 1,170,677 shares of the company’s stock, valued at $301,788,823.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 465,658 shares of company stock valued at $100,549,205. 0.05% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the business. Avondale Wealth Management increased its holdings in shares of Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after purchasing an additional 64 shares during the period. NuWave Investment Management LLC increased its holdings in shares of Apple by 2,245.0% in the second 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 period. Kahn Brothers Group Inc. DE acquired a new position in shares of Apple in the third quarter valued at about $112,000. Horan Securities Inc. increased its holdings in shares of Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the period. Finally, Fulcrum Equity Management acquired a new position in shares of Apple in the third quarter valued at about $135,000. Institutional investors and hedge funds own 58.61% of the company’s stock.
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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