Brokerages Set Apple Inc. (NASDAQ:AAPL) Price Target at $202.62

Shares of Apple Inc. (NASDAQ:AAPLGet Free Report) have earned an average recommendation of “Moderate Buy” from the thirty-five research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, twenty-two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $202.62.

Several research analysts have recently commented on AAPL shares. Maxim Group started coverage on shares of Apple in a report on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price on the stock. Piper Sandler Companies cut shares of Apple to a “neutral” rating and lowered their target price for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. Piper Sandler lowered their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Monness Crespi & Hardt lifted their price objective on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Apple in a research note on Tuesday, April 16th.

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Apple Trading Up 2.2 %

Shares of NASDAQ:AAPL opened at $173.03 on Tuesday. Apple has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a market capitalization of $2.67 trillion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The company has a 50-day simple moving average of $172.15 and a 200 day simple moving average of $181.57. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share. Sell-side analysts forecast that Apple will post 6.53 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be issued a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.58%. Apple’s dividend payout ratio is presently 14.95%.

Insider Transactions at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock worth $63,653,887 in the last 90 days. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Morgan Stanley increased its stake in shares of Apple by 1.0% during the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after acquiring an additional 2,018,010 shares during the period. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth about $33,912,466,000. International Assets Investment Management LLC boosted its holdings in Apple by 14,395.4% during the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after buying an additional 70,212,651 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after buying an additional 2,096,360 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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