JPMorgan Chase & Co. Reiterates “$180.00” Price Target for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPLGet Rating) has been assigned a $180.00 price objective by stock analysts at JPMorgan Chase & Co. in a report released on Thursday, Marketbeat.com reports. The firm currently has an “overweight” rating on the iPhone maker’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 30.56% from the company’s current price.

Several other research analysts also recently commented on AAPL. Sanford C. Bernstein reduced their price objective on Apple from $170.00 to $125.00 in a research note on Monday, January 9th. Oppenheimer decreased their price target on shares of Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, December 12th. Bank of America lowered their price target on shares of Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. DA Davidson cut their price objective on shares of Apple to $167.00 in a report on Thursday, December 1st. Finally, StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.73.

Apple Stock Performance

NASDAQ:AAPL opened at $137.87 on Thursday. The company has a fifty day moving average of $138.72 and a two-hundred day moving average of $148.09. Apple has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The stock has a market capitalization of $2.18 trillion, a PE ratio of 22.56, a P/E/G ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm had revenue of $90.15 billion for the quarter, compared to analyst estimates of $88.77 billion. During the same period last year, the company posted $1.24 EPS. Apple’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Apple will post 6.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Chris Kondo sold 20,200 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Hedge funds have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd raised its holdings in shares of Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after buying an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. raised its stake in Apple by 0.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares during the last quarter. Markel Corp lifted its position in Apple by 0.7% during the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after acquiring an additional 8,450 shares during the period. Camden Capital LLC grew its stake in shares of Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after purchasing an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC raised its stake in shares of Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after purchasing an additional 400 shares during the last quarter. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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