Apple (AAPL) Given a $214.00 Price Target at Macquarie

Macquarie set a $214.00 price objective on Apple (NASDAQ:AAPL) in a research note released on Monday morning. The firm currently has a buy rating on the iPhone maker’s stock.

Several other brokerages also recently commented on AAPL. Wells Fargo & Co set a $210.00 price objective on shares of Apple and gave the company a neutral rating in a research report on Monday, August 20th. New Street Research downgraded shares of Apple from a neutral rating to a sell rating in a research report on Monday, August 20th. Morgan Stanley restated a buy rating and set a $232.00 price objective on shares of Apple in a research report on Wednesday, August 22nd. Bank of America restated a buy rating and set a $250.00 price objective (up from $230.00) on shares of Apple in a research report on Tuesday, August 21st. Finally, Robert W. Baird restated a buy rating and set a $230.00 price objective on shares of Apple in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $219.97.

Shares of AAPL stock opened at $217.94 on Monday. The firm has a market cap of $1,062.46 billion, a PE ratio of 23.66, a PEG ratio of 1.68 and a beta of 1.16. Apple has a one year low of $149.16 and a one year high of $219.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.31.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $1.67 EPS. equities analysts forecast that Apple will post 11.68 EPS for the current fiscal year.

Apple declared that its Board of Directors has approved a share repurchase program on Tuesday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 13th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, August 10th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.34%. Apple’s payout ratio is currently 31.70%.

In other Apple news, insider Johny Srouji sold 14,140 shares of Apple stock in a transaction on Friday, August 17th. The shares were sold at an average price of $214.98, for a total value of $3,039,817.20. Following the completion of the transaction, the insider now directly owns 68,302 shares of the company’s stock, valued at approximately $14,683,563.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 15,653 shares of Apple stock in a transaction on Friday, June 8th. The stock was sold at an average price of $190.94, for a total transaction of $2,988,783.82. Following the completion of the transaction, the chief operating officer now directly owns 147,819 shares of the company’s stock, valued at $28,224,559.86. The disclosure for this sale can be found here. Insiders sold a total of 140,230 shares of company stock valued at $28,436,361 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Large investors have recently modified their holdings of the business. B. Riley Financial Inc. boosted its stake in shares of Apple by 27.6% during the 1st quarter. B. Riley Financial Inc. now owns 17,412 shares of the iPhone maker’s stock worth $2,921,000 after purchasing an additional 3,770 shares during the period. Mizuho Securities USA LLC purchased a new position in shares of Apple during the 1st quarter worth about $1,477,000. Roof Advisory Group Inc. boosted its stake in shares of Apple by 44.0% during the 1st quarter. Roof Advisory Group Inc. now owns 42,322 shares of the iPhone maker’s stock worth $7,101,000 after purchasing an additional 12,930 shares during the period. Viridian Ria LLC purchased a new position in shares of Apple during the 1st quarter worth about $525,000. Finally, Turim 21 Investimentos Ltda. boosted its stake in shares of Apple by 5.1% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 59,421 shares of the iPhone maker’s stock worth $9,970,000 after purchasing an additional 2,906 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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