Apple (NASDAQ:AAPL) PT Set at $187.00 by Goldman Sachs Group
Goldman Sachs Group set a $187.00 target price on Apple (NASDAQ:AAPL) in a research note issued to investors on Friday, Borsen Zeitung reports. The brokerage currently has a neutral rating on the iPhone maker’s stock.
Several other research analysts have also recently issued reports on AAPL. Piper Jaffray Companies upped their price target on DexCom to $173.00 and gave the company an overweight rating in a report on Wednesday, May 1st. New Street Research cut Apple from a neutral rating to a sell rating and set a $170.00 price target on the stock. in a report on Friday, April 12th. Evercore ISI initiated coverage on Helmerich & Payne in a report on Thursday, June 6th. They issued an outperform rating on the stock. Rosenblatt Securities reaffirmed a sell rating and issued a $150.00 price target on shares of Apple in a report on Monday, July 8th. Finally, Loop Capital upped their price target on Apple to $190.00 and gave the company a hold rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Apple has a consensus rating of Hold and a consensus target price of $211.22.
NASDAQ:AAPL traded up $0.72 during midday trading on Friday, hitting $207.74. 17,585,853 shares of the stock were exchanged, compared to its average volume of 18,127,316. Apple has a one year low of $142.00 and a one year high of $233.47. The company has a market cap of $955.83 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. The company’s 50-day moving average price is $200.24. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.26.
Apple declared that its board has approved a stock repurchase plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the transaction, the director now directly owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 56,411 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total transaction of $11,866,617.96. Following the transaction, the chief operating officer now owns 151,187 shares in the company, valued at $31,803,697.32. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Suncoast Equity Management boosted its holdings in Apple by 3.5% in the second quarter. Suncoast Equity Management now owns 85,027 shares of the iPhone maker’s stock worth $16,829,000 after purchasing an additional 2,889 shares in the last quarter. Advisor Partners LLC boosted its holdings in Apple by 3.8% in the second quarter. Advisor Partners LLC now owns 151,543 shares of the iPhone maker’s stock worth $29,993,000 after purchasing an additional 5,582 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. boosted its holdings in Apple by 3.7% in the second quarter. Taylor Cottrill Erickson & Associates Inc. now owns 55,777 shares of the iPhone maker’s stock worth $11,039,000 after purchasing an additional 2,015 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its holdings in Apple by 1.6% in the second quarter. Osborn Williams & Donohoe LLC now owns 127,565 shares of the iPhone maker’s stock worth $25,248,000 after purchasing an additional 1,969 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its holdings in Apple by 26.3% in the second quarter. Measured Wealth Private Client Group LLC now owns 9,300 shares of the iPhone maker’s stock worth $1,648,000 after purchasing an additional 1,934 shares in the last quarter. Institutional investors and hedge funds own 58.50% of the company’s stock.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
Read More: The Structure of a Futures Contract
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.