Apple (NASDAQ:AAPL) Upgraded by Deutsche Bank to Buy

Deutsche Bank upgraded shares of Apple (NASDAQ:AAPL) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, 24/7 WallStreet reports. They currently have $270.00 price objective on the iPhone maker’s stock.

A number of other equities analysts have also weighed in on the stock. Loop Capital reiterated a hold rating and issued a $325.00 price objective on shares of Apple in a research report on Wednesday, January 29th. BidaskClub upgraded shares of Apple from a hold rating to a buy rating in a research report on Wednesday, March 4th. China Renaissance Securities initiated coverage on shares of Apple in a research report on Monday, December 9th. They issued a buy rating and a $342.00 price objective on the stock. Royal Bank of Canada set a $358.00 price objective on shares of Apple and gave the company a buy rating in a research report on Tuesday, February 18th. Finally, Maxim Group upgraded shares of Apple from a sell rating to a hold rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $305.00.

Shares of Apple stock traded down $1.36 during trading on Tuesday, reaching $245.52. The company’s stock had a trading volume of 75,697,420 shares, compared to its average volume of 75,562,544. The company has a 50-day moving average price of $289.96 and a two-hundred day moving average price of $270.14. The firm has a market cap of $1,074.27 billion, a PE ratio of 19.39, a P/E/G ratio of 1.64 and a beta of 1.30. Apple has a fifty-two week low of $170.27 and a fifty-two week high of $327.85. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.04.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.45. Apple had a net margin of 21.49% and a return on equity of 60.19%. The business had revenue of $91.80 billion for the quarter, compared to analysts’ expectations of $88.41 billion. During the same period in the previous year, the company posted $4.18 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Apple will post 13.05 earnings per share for the current fiscal year.

In related news, Director Arthur D. Levinson sold 1,429 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $304.11, for a total value of $434,573.19. Following the sale, the director now directly owns 1,134,712 shares in the company, valued at approximately $345,077,266.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd raised its stake in Apple by 2,180.0% in the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 109 shares during the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the 4th quarter valued at about $36,000. CXI Advisors acquired a new position in Apple in the 4th quarter valued at about $68,000. University of Texas Texas AM Investment Managment Co. acquired a new position in Apple in the 4th quarter valued at about $117,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Apple in the 4th quarter valued at about $129,000. 60.69% of the stock is owned by hedge funds and other 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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