Apple (NASDAQ:AAPL) PT Raised to $250.00 at Evercore ISI

Apple (NASDAQ:AAPL) had its price objective lifted by Evercore ISI from $220.00 to $250.00 in a research report sent to investors on Tuesday, MarketBeat reports. They currently have an outperform rating on the iPhone maker’s stock.

Several other analysts also recently weighed in on AAPL. Melius Research boosted their price target on Apple from $227.00 to $260.00 and gave the company a buy rating in a research note on Monday. Canaccord Genuity Group increased their target price on Apple from $200.00 to $215.00 and gave the company a buy rating in a report on Saturday, May 4th. Bank of America reissued a buy rating and set a $230.00 target price on shares of Apple in a report on Wednesday, June 12th. DA Davidson raised Apple from a neutral rating to a buy rating and increased their price target for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Finally, DZ Bank reiterated a hold rating and issued a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $214.29.

Apple Trading Up 0.4 %

Shares of NASDAQ AAPL opened at $214.10 on Tuesday. The firm has a market cap of $3.28 trillion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 2.54 and a beta of 1.25. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple has a twelve month low of $164.07 and a twelve month high of $220.20. The business has a fifty day simple moving average of $190.27 and a two-hundred day simple moving average of $185.14.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The firm had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period in the previous year, the company posted $1.52 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts expect that Apple will post 6.58 earnings per share for the current fiscal year.

Apple announced that its board has approved a share buyback program on Thursday, May 2nd that permits the company to buyback $110.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 over the last quarter. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Conservest Capital Advisors Inc. grew its stake in shares of Apple by 0.3% during the 3rd quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after buying an additional 55 shares during the period. Flagstone Financial Management lifted its position in shares of 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 purchasing an additional 56 shares during the last quarter. High Pines Wealth Management LLC lifted its position in shares of Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock worth $1,638,000 after purchasing an additional 58 shares during the last quarter. Asset Planning Corporation lifted its holdings in Apple by 1.0% in the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after acquiring an additional 59 shares during the last quarter. Finally, Columbus Macro LLC lifted its holdings in Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after acquiring an additional 59 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Company Profile

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.