Apple (NASDAQ:AAPL) had its target price hoisted by Wells Fargo & Company from $140.00 to $155.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the iPhone maker’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.42% from the company’s previous close.
A number of other research analysts have also issued reports on the company. Piper Sandler raised Apple to an “overweight” rating and lifted their target price for the stock from $130.00 to $135.00 in a report on Thursday, October 22nd. Argus raised Apple to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Apple in a report on Wednesday, October 14th. Sanford C. Bernstein reaffirmed a “neutral” rating and set a $100.00 target price on shares of Apple in a report on Wednesday, September 16th. Finally, BidaskClub lowered Apple from a “strong-buy” rating to a “buy” rating in a report on Friday, January 1st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $118.61.
Shares of AAPL opened at $130.89 on Tuesday. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.33 and a current ratio of 1.36. Apple has a one year low of $53.15 and a one year high of $138.79. The stock’s fifty day moving average is $126.77 and its 200-day moving average is $115.12.
In other Apple news, SVP Katherine L. Adams sold 17,000 shares of Apple stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $110.42, for a total value of $1,877,140.00. Following the transaction, the senior vice president now directly owns 320,784 shares of the company’s stock, valued at approximately $35,420,969.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 31,200 shares of Apple stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $119.80, for a total value of $3,737,760.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,040 shares of company stock worth $7,415,586. Company insiders own 0.06% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Phocas Financial Corp. grew its holdings in shares of Apple by 0.4% during the 2nd quarter. Phocas Financial Corp. now owns 4,979 shares of the iPhone maker’s stock worth $1,816,000 after purchasing an additional 20 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Apple by 1.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,704 shares of the iPhone maker’s stock worth $986,000 after purchasing an additional 37 shares in the last quarter. Advisory Resource Group grew its holdings in shares of Apple by 1.4% during the 2nd quarter. Advisory Resource Group now owns 4,485 shares of the iPhone maker’s stock worth $1,636,000 after purchasing an additional 64 shares in the last quarter. TD Capital Management LLC grew its holdings in shares of Apple by 1.3% during the 2nd quarter. TD Capital Management LLC now owns 5,107 shares of the iPhone maker’s stock worth $1,863,000 after purchasing an additional 65 shares in the last quarter. Finally, Lountzis Asset Management LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $26,000. 57.77% of the stock is currently owned by institutional investors.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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