Morgan Stanley Analysts Give Apple (NASDAQ:AAPL) a $247.00 Price Target

Share on StockTwits

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.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 earnings per share. On average, analysts anticipate that Apple will post 11.68 earnings per share for the current fiscal year.

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.

About Apple

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.

See Also: Momentum Indicators

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.