Apple (NASDAQ:AAPL) Price Target Increased to $177.00 by Analysts at KeyCorp

Apple (NASDAQ:AAPLGet Rating) had its target price upped by KeyCorp from $173.00 to $177.00 in a report issued on Tuesday morning, Marketbeat reports. They currently have an overweight rating on the iPhone maker’s stock.

Several other equities research analysts also recently commented on the stock. UBS Group set a $185.00 target price on shares of Apple in a research note on Thursday, July 21st. The Goldman Sachs Group set a $139.00 price target on Apple in a report on Friday, July 29th. Itau BBA Securities began coverage on Apple in a report on Tuesday, July 26th. They issued an underperform rating and a $136.00 price target for the company. Loop Capital cut their price target on Apple from $210.00 to $180.00 and set a buy rating for the company in a report on Wednesday, May 25th. Finally, JPMorgan Chase & Co. set a $200.00 price target on Apple in a report on Monday, July 25th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $179.16.

Apple Stock Down 0.9 %

Shares of NASDAQ:AAPL opened at $160.01 on Tuesday. Apple has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The company’s fifty day moving average is $145.07 and its 200-day moving average is $157.14. The company has a market capitalization of $2.59 trillion, a PE ratio of 26.40, a P/E/G ratio of 2.11 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts predict that Apple will post 6.08 earnings per share for the current fiscal year.

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

Apple Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is presently 15.18%.

Hedge Funds Weigh In On Apple

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

Apple Company Profile

(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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