UBS Group reissued their buy rating on shares of Apple (NASDAQ:AAPL) in a research report sent to investors on Thursday, January 3rd, The Fly reports. The firm currently has a $180.00 price target on the iPhone maker’s stock, down from their previous price target of $210.00.
A number of other equities research analysts have also recently issued reports on the stock. New Street Research restated a sell rating on shares of Apple in a report on Tuesday, September 18th. Needham & Company LLC upped their price target on shares of Apple from $220.00 to $260.00 and gave the company a buy rating in a report on Thursday, September 13th. Citigroup decreased their price target on shares of Apple from $265.00 to $240.00 and set a buy rating for the company in a report on Friday, November 2nd. Bank of America restated a buy rating on shares of Apple in a report on Tuesday, October 9th. Finally, Goldman Sachs Group restated a neutral rating and set a $182.00 price target (down from $209.00) on shares of Apple in a report on Tuesday, November 20th. Three research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $195.19.
AAPL opened at $152.29 on Thursday. Apple has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $753.54 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.45 and a beta of 1.23.
Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.07 earnings per share. Sell-side analysts anticipate that Apple will post 12.1 EPS for the current fiscal year.
In related news, insider Chris Kondo sold 3,408 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $190.00, for a total value of $647,520.00. Following the sale, the insider now directly owns 8,940 shares of the company’s stock, valued at approximately $1,698,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in Apple by 9.7% in the 3rd quarter. Morgan Stanley now owns 39,188,032 shares of the iPhone maker’s stock valued at $8,846,307,000 after buying an additional 3,452,792 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in Apple by 1.8% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 26,144,522 shares of the iPhone maker’s stock valued at $5,901,864,000 after buying an additional 454,086 shares during the last quarter. Janus Henderson Group PLC grew its stake in Apple by 18.8% in the 3rd quarter. Janus Henderson Group PLC now owns 20,833,222 shares of the iPhone maker’s stock valued at $4,703,027,000 after buying an additional 3,293,674 shares during the last quarter. Summit Trail Advisors LLC grew its stake in Apple by 17,669.4% in the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after buying an additional 20,067,124 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Apple by 6.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock valued at $3,148,443,000 after buying an additional 1,030,981 shares during the last quarter. Institutional investors own 57.06% 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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