Apple (NASDAQ:AAPL) PT Raised to $177.00

Apple (NASDAQ:AAPLGet Rating) had its target price boosted by stock analysts at Fundamental Research to $177.00 in a report issued on Wednesday, Marketbeat reports. The firm presently has an “average” rating on the iPhone maker’s stock. Fundamental Research’s target price suggests a potential upside of 6.75% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research note on Monday, July 25th. set a $175.00 price objective on Apple in a research note on Friday, July 29th. Evercore ISI upped their price objective on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Itaú Unibanco began coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Finally, Credit Suisse Group set a $166.00 price target on Apple in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.

Apple Trading Down 0.2 %

NASDAQ:AAPL opened at $165.81 on Wednesday. Apple has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of $146.03 and a two-hundred day moving average price of $157.15. The company has a market cap of $2.66 trillion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 2.07 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The business’s revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that Apple will post 6.1 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. State Street Corp boosted its position in Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC boosted its position in Apple by 1.7% in the fourth 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 during the last quarter. Norges Bank purchased a new position in Apple in the fourth quarter worth $25,228,507,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Apple by 1.5% in the first 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 during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

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.

See Also

Analyst Recommendations for Apple (NASDAQ:AAPL)

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