TD Cowen Boosts Apple (NASDAQ:AAPL) Price Target to $250.00

Apple (NASDAQ:AAPL) had its target price upped by TD Cowen from $220.00 to $250.00 in a research report released on Monday morning, MarketBeat.com reports. TD Cowen currently has a buy rating on the iPhone maker’s stock.

A number of other research analysts have also weighed in on the stock. Sanford C. Bernstein raised their price objective on shares of Apple from $195.00 to $240.00 and gave the company an outperform rating in a research note on Friday, June 21st. Tigress Financial increased their target price on shares of Apple from $240.00 to $245.00 and gave the company a strong-buy rating in a report on Thursday, May 30th. Itau BBA Securities upgraded shares of Apple from an underperform rating to a market perform rating and increased their target price for the company from $162.00 to $188.00 in a report on Friday, May 3rd. Robert W. Baird increased their target price on shares of Apple from $200.00 to $240.00 and gave the company an outperform rating in a report on Thursday, July 25th. Finally, UBS Group reiterated a neutral rating and issued a $190.00 target price on shares of Apple in a report on Monday, July 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of Moderate Buy and an average target price of $230.97.

Apple Stock Down 1.7 %

Apple stock opened at $218.36 on Monday. Apple has a 1-year low of $164.07 and a 1-year high of $237.23. The firm has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The firm’s fifty day moving average price is $213.16 and its two-hundred day moving average price is $191.00. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Apple will post 6.61 earnings per share for the current fiscal year.

Apple announced that its board has authorized 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Several hedge funds have recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in Apple in the 1st quarter worth approximately $35,000. Fidelis Capital Partners LLC lifted its position in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple in the 4th quarter worth approximately $39,000. Gilfoyle & Co LLC lifted its position in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. lifted its position in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

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.