Apple (NASDAQ:AAPL) PT Raised to $400.00 at Wedbush

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Apple (NASDAQ:AAPL) had its price target increased by stock analysts at Wedbush from $350.00 to $400.00 in a note issued to investors on Friday, Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the iPhone maker’s stock. Wedbush’s price objective points to a potential upside of 25.30% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Sanford C. Bernstein reiterated a “hold” rating and issued a $300.00 price target on shares of Apple in a research report on Friday, January 10th. Rosenblatt Securities upped their price target on shares of Apple from $150.00 to $250.00 and gave the company a “sell” rating in a research report on Friday. Nomura upped their price target on shares of Apple from $225.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Macquarie downgraded shares of Apple from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Apple has a consensus rating of “Hold” and a consensus target price of $282.36.

AAPL stock opened at $319.23 on Friday. The company has a fifty day moving average price of $292.97 and a 200 day moving average price of $242.93. Apple has a 12 month low of $151.74 and a 12 month high of $319.99. The company has a market cap of $1,399.51 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 2.30 and a beta of 1.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, beating the consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm had revenue of $64.04 billion during the quarter, compared to the consensus estimate of $62.86 billion. During the same quarter in the prior year, the firm earned $2.91 EPS. Apple’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts anticipate that Apple will post 13.16 earnings per share for the current year.

In other Apple news, Director Arthur D. Levinson sold 37,394 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total value of $9,639,799.26. Following the transaction, the director now directly owns 1,170,677 shares in the company, valued at approximately $301,788,823.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.05% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Capital Bank & Trust Co increased its position in Apple by 0.4% during the 2nd quarter. Capital Bank & Trust Co now owns 621,074 shares of the iPhone maker’s stock worth $122,994,000 after purchasing an additional 2,330 shares in the last quarter. Signaturefd LLC increased its position in Apple by 5.4% during the 3rd quarter. Signaturefd LLC now owns 72,303 shares of the iPhone maker’s stock worth $16,194,000 after purchasing an additional 3,705 shares in the last quarter. Cim LLC increased its position in Apple by 1.3% during the 3rd quarter. Cim LLC now owns 56,497 shares of the iPhone maker’s stock worth $12,654,000 after purchasing an additional 705 shares in the last quarter. MONECO Advisors LLC increased its position in Apple by 0.5% during the 3rd quarter. MONECO Advisors LLC now owns 19,749 shares of the iPhone maker’s stock worth $4,423,000 after purchasing an additional 92 shares in the last quarter. Finally, Donaldson Capital Management LLC increased its position in Apple by 12.7% during the 3rd quarter. Donaldson Capital Management LLC now owns 224,152 shares of the iPhone maker’s stock worth $50,203,000 after purchasing an additional 25,172 shares in the last quarter. Institutional investors own 60.33% 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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Analyst Recommendations for Apple (NASDAQ:AAPL)

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