Barclays Raises Apple (NASDAQ:AAPL) Price Target to $169.00

Apple (NASDAQ:AAPLGet Rating) had its price objective boosted by Barclays from $166.00 to $169.00 in a research report sent to investors on Friday morning, The Fly reports. They currently have a maintains rating on the iPhone maker’s stock.

Several other analysts have also recently issued reports on AAPL. Bank of America cut their price target on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a report on Monday, July 25th. StockNews.com started coverage on shares of Apple in a report on Thursday, March 31st. They issued a hold rating on the stock. Itau BBA Securities assumed coverage on shares of Apple in a report on Tuesday, July 26th. They issued an underperform rating and a $136.00 price target on the stock. Finally, Evercore ISI dropped their target price on shares of Apple from $210.00 to $180.00 and set an outperform rating on the stock in a report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $179.04.

Apple Trading Up 3.3 %

NASDAQ AAPL opened at $162.51 on Friday. The company’s fifty day simple moving average is $144.31 and its 200-day simple moving average is $157.20. Apple has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. The stock has a market cap of $2.63 trillion, a P/E ratio of 26.38, a PEG ratio of 1.97 and a beta of 1.19.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. Equities research analysts predict that Apple will post 6.09 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Monday, August 8th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. Apple’s dividend payout ratio is presently 14.94%.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apple

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after acquiring an additional 8,734,393 shares during the last quarter. State Street Corp lifted its stake in Apple by 1.8% during the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC lifted its stake in Apple by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new stake in Apple during the fourth quarter valued at about $25,228,507,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Apple by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after buying an additional 1,155,915 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

About Apple

(Get Rating)

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.

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