Apple (NASDAQ:AAPL) Given New $190.00 Price Target at Evercore ISI

Apple (NASDAQ:AAPLGet Rating) had its price objective increased by Evercore ISI from $185.00 to $190.00 in a report issued on Tuesday, The Fly reports. They currently have an outperform rating on the iPhone maker’s stock.

AAPL has been the subject of several other reports. Itau BBA Securities started coverage on Apple in a research note on Tuesday, July 26th. They set an underperform rating and a $136.00 price objective for the company. Oppenheimer restated an outperform rating and set a $190.00 target price on shares of Apple in a report on Wednesday, June 8th. Rosenblatt Securities decreased their target price on Apple from $168.00 to $160.00 and set a neutral rating on the stock in a report on Friday, July 29th. Wells Fargo & Company decreased their target price on Apple from $205.00 to $185.00 and set an overweight rating on the stock in a report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. set a $200.00 target price on Apple in a report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $181.68.

Apple Stock Up 1.6 %

Shares of Apple stock opened at $156.90 on Tuesday. The stock has a market capitalization of $2.52 trillion, a P/E ratio of 25.89, a PEG ratio of 1.95 and a beta of 1.23. 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 stock has a 50 day moving average price of $159.84 and a two-hundred day moving average price of $155.88. Apple has a 12-month low of $129.04 and a 12-month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly 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 company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 earnings per share. Equities analysts expect that Apple will post 6.11 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Apple in the 4th quarter valued at $25,228,507,000. Aaron Wealth Advisors LLC grew its position in shares of Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after buying an additional 25,989,570 shares during the last quarter. State Street Corp grew its position in shares of Apple by 1.8% in the 4th 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 during the last quarter. Legal & General Group Plc grew its position in shares of Apple by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after buying an additional 9,411,018 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of Apple by 31.7% in the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after buying an additional 9,354,484 shares during the last quarter. 57.72% of the stock is currently 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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