Apple (NASDAQ:AAPL) Price Target Raised to $239.00

Apple (NASDAQ:AAPL) had its target price upped by JPMorgan Chase & Co. from $233.00 to $239.00 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has an overweight rating on the iPhone maker’s stock.

Other equities research analysts have also issued reports about the company. Cowen set a $63.00 price objective on TJX Companies and gave the stock a buy rating in a research note on Tuesday, June 4th. Goldman Sachs Group upgraded to a buy rating and set a GBX 1,180 ($15.42) price objective for the company in a research note on Tuesday, June 4th. Deutsche Bank set a €42.00 ($48.84) target price on shares of Alstom and gave the stock a neutral rating in a report on Tuesday, June 25th. New Street Research downgraded shares of Apple from a neutral rating to a sell rating and set a $170.00 target price for the company. in a report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Micron Technology in a report on Thursday, March 21st. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $209.27.

NASDAQ:AAPL opened at $203.30 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.32 and a quick ratio of 1.26. The stock has a market cap of $935.40 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23. Apple has a one year low of $142.00 and a one year high of $233.47. The business has a fifty day moving average of $192.74.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, April 30th. The iPhone maker reported $2.46 EPS for the quarter, topping the consensus estimate of $2.37 by $0.09. The firm had revenue of $58.02 billion during the quarter, compared to analyst estimates of $57.40 billion. Apple had a return on equity of 51.29% and a net margin of 22.12%. Apple’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.73 EPS. Research analysts anticipate that Apple will post 11.47 earnings per share for the current year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 30th that allows the company to buyback $75.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

In other news, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 1,168,283 shares in the company, valued at approximately $246,344,153.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 56,411 shares of the company’s stock in a transaction dated 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 sale, 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. 0.05% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. UNIVEST FINANCIAL Corp raised its position in Apple by 0.3% in the 2nd quarter. UNIVEST FINANCIAL Corp now owns 32,604 shares of the iPhone maker’s stock worth $6,453,000 after purchasing an additional 113 shares during the period. Northstar Group Inc. raised its position in Apple by 18.5% in the 2nd quarter. Northstar Group Inc. now owns 44,428 shares of the iPhone maker’s stock worth $8,793,000 after purchasing an additional 6,927 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in Apple by 2.9% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 23,364 shares of the iPhone maker’s stock worth $4,624,000 after purchasing an additional 664 shares during the period. Smith Salley & Associates raised its position in Apple by 3.6% in the 2nd quarter. Smith Salley & Associates now owns 104,946 shares of the iPhone maker’s stock worth $20,771,000 after purchasing an additional 3,662 shares during the period. Finally, Butensky & Cohen Financial Security Inc. raised its position in Apple by 3.7% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 12,959 shares of the iPhone maker’s stock worth $2,565,000 after purchasing an additional 464 shares during the period. 58.54% of the stock is currently owned by institutional investors.

Apple Company Profile

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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