Morgan Stanley set a $247.00 target price on Apple (NASDAQ:AAPL) in a research report released on Thursday, Borsen Zeitung reports. The firm currently has a buy rating on the iPhone maker’s stock.
AAPL has been the subject of several other reports. Monness Crespi & Hardt restated a buy rating and issued a $265.00 price objective (up from $245.00) on shares of Apple in a report on Wednesday, July 31st. Sanford C. Bernstein set a $205.00 price objective on Apple and gave the company a hold rating in a report on Tuesday, September 3rd. Raymond James upgraded Apple from a market perform rating to an outperform rating and set a $250.00 price objective for the company in a report on Thursday, July 18th. HSBC set a $174.00 price objective on Apple and gave the company a sell rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. set a $243.00 price objective on Apple and gave the company a buy rating in a report on Monday, August 26th. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $217.25.
AAPL stock opened at $218.75 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The business has a 50-day moving average price of $207.36 and a 200 day moving average price of $196.71. The company has a market capitalization of $1,008.16 billion, a P/E ratio of 18.37, a PEG ratio of 1.85 and a beta of 1.24. Apple has a 1-year low of $142.00 and a 1-year high of $233.47.
In other news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the sale, the director now owns 1,150,783 shares in the company, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Insiders have sold 304,536 shares of company stock worth $62,894,611 in the last 90 days. Insiders own 0.05% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Centaurus Financial Inc. boosted its position in Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock valued at $44,000 after buying an additional 1,262 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in Apple in the fourth quarter valued at approximately $50,000. Avondale Wealth Management boosted its position in 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 buying an additional 64 shares during the last quarter. NuWave Investment Management LLC boosted its position in 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 buying an additional 449 shares during the last quarter. Finally, Horan Securities Inc. boosted its position in 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 buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 58.77% of the company’s stock.
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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