Fundamental research lowers its price target by Apple (NASDAQ: AAPL) at $ 175.24

Fundamental research lowers its price target by Apple (NASDAQ: AAPL) at $ 175.24

February 15th. Finally, UBS Group set a $185.00 price target on Apple in a research note on Friday, April 29th. Nine analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $188.39. AAPL traded up $0.51 during trading on Friday, reaching $157.28. 116,056,058 shares of the company’s stock were exchanged, compared to its average volume of 84,519,672. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The stock has a market capitalization of $2.55 trillion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 2.17 and a beta of 1.19. The company’s fifty day simple moving average is $165.31 and its 200-day simple moving average is $165.43. Apple has a 1 year low of $122.25 and a 1 year high of $182.94.

Fundamental Research reduced Apple’s price target from $179.32 to $175.24 in a research released Friday morning. The stock of the iPhone maker now receives an average rating from Fundamental Research. AAPL has received support from a number of different research companies. In a research note issued on Friday, April 8th, Deutsche Bank Rese… put a $210.00 target price on Apple shares. In an article published on Thursday, March 31st, StockNews.com assumed coverage of Apple. They assigned the corporation a hold rating. In a research released on Wednesday, March 2nd, Zacks Investment Research restated a buy recommendation on Apple shares. Tigress Financial raised their price target on Apple from $198.00 to $210.00 in a report on Tuesday and gave the firm a strong-buy recommendation.

Highlights

  • The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 12th. Shareholders of record on Monday, May 9th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Friday, May 6th. This is a positive change from Apple’s previous quarterly dividend of $0.22. Apple’s payout ratio is 14.29%.

  • Last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. The firm had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS. Equities analysts forecast that Apple will post 6.11 EPS for the current year. Apple declared that its Board of Directors has initiated a share buyback program on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Institutional investors have recently made changes to their positions in the company. Fountainhead AM LLC raised its position in Apple by 11.6% during the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock valued at $7,732,000 after buying an additional 4,738 shares during the period. Grace Capital grew its stake in Apple by 2.2% in the fourth quarter. Grace Capital now owns 49,547 shares of the iPhone maker’s stock valued at $8,798,000 after purchasing an additional 1,086 shares in the last quarter. Ironwood Investment Counsel LLC grew its stake in Apple by 2.4% in the third quarter. Ironwood Investment Counsel LLC now owns 136,925 shares of the iPhone maker’s stock valued at $19,374,000 after purchasing an additional 3,229 shares in the last quarter. Marcum Wealth LLC grew its stake in Apple by 6.8% in the fourth quarter. Marcum Wealth LLC now owns 106,650 shares of the iPhone maker’s stock valued at $18,938,000 after purchasing an additional 6,827 shares in the last quarter. Finally, Gs Investments Inc. purchased a new position in Apple in the third quarter valued at about $9,268,000. 57.98% of the stock is currently owned by institutional investors.

In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 29,198 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $177.77, for a total value of $5,190,528.46. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $24,228,273.30. The disclosure for this sale can be found here. Insiders have sold a total of 168,099 shares of company stock valued at $29,376,711 in the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.