Apple (NASDAQ:AAPL) PT Raised to $205.00 at Monness Crespi & Hardt

Apple (NASDAQ:AAPL) had its price target lifted by Monness Crespi & Hardt from $200.00 to $205.00 in a research report issued on Friday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Monness Crespi & Hardt’s price objective suggests a potential upside of 11.79% from the company’s previous close.

A number of other analysts also recently commented on AAPL. Citigroup dropped their price objective on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Piper Sandler Companies downgraded shares of Apple to a “neutral” rating and dropped their target price for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. Redburn Atlantic lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price for the company. in a research note on Wednesday, January 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Apple in a report on Friday, February 2nd. Finally, Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.00.

Apple Stock Performance

AAPL stock opened at $183.38 on Friday. The company has a market capitalization of $2.83 trillion, a P/E ratio of 28.52, a PEG ratio of 2.09 and a beta of 1.26. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a 50-day simple moving average of $172.17 and a 200 day simple moving average of $181.60. Apple has a fifty-two week low of $164.07 and a fifty-two week high of $199.62.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 153.25%. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period last year, the firm posted $1.52 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts predict that Apple will post 6.53 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock valued at $63,653,887 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apple

Several large investors have recently bought and sold shares of AAPL. Conservest Capital Advisors Inc. lifted its position in shares of Apple by 0.3% in the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock worth $2,877,000 after acquiring an additional 55 shares during the period. Flagstone Financial Management boosted its stake in Apple by 0.9% during the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 56 shares in the last quarter. High Pines Wealth Management LLC increased its holdings in Apple by 0.7% in the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares during the period. Kraft Davis & Associates LLC lifted its holdings in shares of Apple by 0.9% during the 3rd quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock worth $1,155,000 after acquiring an additional 59 shares during the period. Finally, Asset Planning Corporation boosted its position in shares of Apple by 1.0% during the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after acquiring an additional 59 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.