Apple (NASDAQ:AAPL) has been given a $296.00 price objective by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Monday, January 6th, Borsen Zeitung reports. The firm currently has a “buy” rating on the iPhone maker’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 6.14% from the stock’s previous close.
AAPL has been the topic of several other research reports. DA Davidson raised their price target on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Deutsche Bank increased their target price on Apple from $210.00 to $230.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. China Renaissance Securities started coverage on Apple in a research report on Monday, December 9th. They set a “buy” rating and a $342.00 price target on the stock. Nomura restated a “hold” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, December 10th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $221.00 target price on shares of Apple in a research report on Tuesday, November 19th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $274.36.
AAPL stock traded up $4.03 on Monday, hitting $315.37. 4,882,802 shares of the company were exchanged, compared to its average volume of 29,538,572. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. The stock has a market capitalization of $1,364.92 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. The business’s fifty day moving average is $284.56 and its two-hundred day moving average is $238.26. Apple has a twelve month low of $150.05 and a twelve month high of $317.57.
In related news, Director Arthur D. Levinson sold 37,394 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the sale, the director now directly owns 1,170,677 shares of the company’s stock, valued at approximately $301,788,823.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Capital Management LLC boosted its holdings in shares of Apple by 0.5% during the second quarter. Eagle Capital Management LLC now owns 22,953 shares of the iPhone maker’s stock valued at $4,543,000 after acquiring an additional 104 shares during the period. Kanawha Capital Management LLC increased its stake in shares of Apple by 2.2% in the second quarter. Kanawha Capital Management LLC now owns 93,192 shares of the iPhone maker’s stock valued at $18,445,000 after purchasing an additional 2,029 shares during the period. Cynosure Management LLC acquired a new position in shares of Apple during the second quarter worth approximately $1,749,000. Verity Asset Management Inc. boosted its position in shares of Apple by 220.1% during the second quarter. Verity Asset Management Inc. now owns 15,485 shares of the iPhone maker’s stock worth $2,925,000 after buying an additional 10,647 shares during the period. Finally, Peregrine Asset Advisers Inc. grew its holdings in Apple by 2.4% in the 2nd quarter. Peregrine Asset Advisers Inc. now owns 5,832 shares of the iPhone maker’s stock worth $1,154,000 after buying an additional 137 shares in the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.
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.
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