Apple (AAPL) Price Target Raised to $300.00 at Monness Crespi & Hardt
Apple (NASDAQ:AAPL) had its price target boosted by Monness Crespi & Hardt from $275.00 to $300.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Monness Crespi & Hardt’s price target indicates a potential upside of 32.77% from the stock’s current price.
Several other equities research analysts have also commented on the company. Independent Research set a $270.00 price objective on Apple and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley upped their price objective on Apple from $245.00 to $247.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets upgraded Apple to a “market perform” rating and set a $199.00 price objective for the company in a research note on Thursday. Deutsche Bank upped their target price on shares of Apple to $205.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Sanford C. Bernstein reaffirmed a “neutral” rating and issued a $200.00 target price on shares of Apple in a report on Thursday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $217.39.
Shares of NASDAQ:AAPL traded down $0.45 during midday trading on Friday, hitting $225.96. The company had a trading volume of 336,040 shares, compared to its average volume of 29,831,018. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24. The firm has a market capitalization of $1,086.59 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. Apple has a 12-month low of $149.16 and a 12-month high of $229.67.
In related news, COO Jeffrey E. Williams sold 15,652 shares of the stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $190.18, for a total value of $2,976,697.36. Following the completion of the transaction, the chief operating officer now owns 125,258 shares of the company’s stock, valued at approximately $23,821,566.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Craig Federighi sold 47,796 shares of the stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $207.50, for a total transaction of $9,917,670.00. Following the completion of the transaction, the insider now directly owns 412,571 shares of the company’s stock, valued at approximately $85,608,482.50. The disclosure for this sale can be found here. Insiders have sold a total of 378,400 shares of company stock valued at $81,052,754 in the last three months. Insiders own 0.08% of the company’s stock.
Large investors have recently made changes to their positions in the stock. FMR LLC raised its position in Apple by 3.0% in the 2nd quarter. FMR LLC now owns 103,652,293 shares of the iPhone maker’s stock worth $19,187,075,000 after purchasing an additional 3,019,688 shares during the period. Summit Trail Advisors LLC raised its position in Apple by 17,669.4% in the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after purchasing an additional 20,067,124 shares during the period. Schwab Charles Investment Management Inc. raised its position in Apple by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,817,792 shares of the iPhone maker’s stock worth $3,668,472,000 after purchasing an additional 207,520 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Apple by 6.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,008,496 shares of the iPhone maker’s stock worth $3,148,443,000 after purchasing an additional 1,030,981 shares during the period. Finally, Swiss National Bank raised its position in Apple by 1.8% in the 2nd quarter. Swiss National Bank now owns 16,874,216 shares of the iPhone maker’s stock worth $3,123,586,000 after purchasing an additional 304,600 shares during the period. 58.62% 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 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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