Apple (NASDAQ:AAPL) PT Raised to $275.00

Share on StockTwits

Apple (NASDAQ:AAPL) had its price objective hoisted by Canaccord Genuity from $260.00 to $275.00 in a research note issued to investors on Thursday, October 31st, The Fly reports. The firm presently has a “buy” rating on the iPhone maker’s stock. Canaccord Genuity’s target price would suggest a potential upside of 5.71% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Needham & Company LLC lifted their price objective on Apple from $225.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 11th. 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. Daiwa Capital Markets set a $223.00 price objective on Apple and gave the stock a “buy” rating in a research note on Wednesday, August 7th. HSBC set a $190.00 price objective on Apple and gave the stock a “sell” rating in a research note on Thursday, September 26th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $265.00 price objective (up previously from $245.00) on shares of Apple in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $239.51.

AAPL traded up $0.71 during midday trading on Thursday, hitting $260.14. The stock had a trading volume of 17,496,500 shares, compared to its average volume of 28,496,354. The business has a fifty day moving average of $235.37 and a 200 day moving average of $209.53. The company has a market cap of $1,142.50 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. Apple has a 1 year low of $142.00 and a 1 year high of $260.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.50 and a current ratio of 1.54.

Apple (NASDAQ:AAPL) last issued its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.19. The company had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $2.91 EPS. On average, equities research analysts anticipate that Apple will post 13.17 earnings per share for the current year.

In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the sale, the director now directly owns 1,150,783 shares in the company, valued at approximately $232,101,423.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 3,932 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $233.26, for a total value of $917,178.32. Following the completion of the sale, the insider now owns 15,464 shares of the company’s stock, valued at $3,607,132.64. The disclosure for this sale can be found here. Insiders sold a total of 465,658 shares of company stock valued at $100,549,205 over the last quarter. Company insiders own 0.05% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Smith Shellnut Wilson LLC ADV boosted its stake in shares of Apple by 1.0% in the third quarter. Smith Shellnut Wilson LLC ADV now owns 9,292 shares of the iPhone maker’s stock worth $2,081,000 after buying an additional 94 shares during the last quarter. Valmark Advisers Inc. boosted its stake in shares of Apple by 2.7% in the third quarter. Valmark Advisers Inc. now owns 24,207 shares of the iPhone maker’s stock worth $5,422,000 after buying an additional 644 shares during the last quarter. WT Wealth Management purchased a new stake in shares of Apple in the third quarter worth about $1,453,000. AllSquare Wealth Management LLC boosted its stake in shares of Apple by 2.5% in the third quarter. AllSquare Wealth Management LLC now owns 4,258 shares of the iPhone maker’s stock worth $954,000 after buying an additional 103 shares during the last quarter. Finally, CNA Financial Corp boosted its stake in shares of Apple by 12.2% in the third quarter. CNA Financial Corp now owns 12,900 shares of the iPhone maker’s stock worth $2,889,000 after buying an additional 1,400 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors.

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.

Featured Article: Most Volatile Stocks – What Investors Need to Know to Maximize ROI

The Fly

Analyst Recommendations for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.