Apple (NASDAQ:AAPL – Get Free Report) had its price target boosted by analysts at UBS Group from $190.00 to $236.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the iPhone maker’s stock. UBS Group’s price objective would suggest a potential upside of 7.85% from the stock’s previous close.
A number of other brokerages have also recently commented on AAPL. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Tuesday, August 27th. TD Cowen boosted their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Citigroup reaffirmed a “buy” rating and set a $255.00 price target on shares of Apple in a report on Tuesday, August 27th. Finally, Barclays cut their price objective on shares of Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $238.62.
View Our Latest Analysis on AAPL
Apple Trading Down 1.8 %
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the company earned $1.26 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Apple will post 6.7 earnings per share for the current year.
Insider Activity at Apple
In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,884 shares of company stock valued at $23,723,887. Company insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of 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 last quarter. Norges Bank acquired a new position in shares of Apple during the fourth quarter worth approximately $33,912,466,000. Wellington Management Group LLP boosted its position in shares of Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares during the period. Fisher Asset Management LLC boosted its position in shares of Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after acquiring an additional 1,067,587 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.
About Apple
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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