Apple Inc (NASDAQ:AAPL) shares traded 1.23% higher at $170.29 on Wall Street last session.
In accordance with the data, 45 analysts cover Apple Inc (NASDAQ:AAPL). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $240.00 and a low of $125.00, we find $200.00. Given the previous closing price of $168.22, this indicates a potential upside of 18.89 percent. AAPL stock price is now -3.74% away from the 50-day moving average and -0.14% away from the 200-day moving average. The market capitalization of the company currently stands at $2662.35B.
It has been rated a hold by 15 analysts and a buy by 22. Brokers who have rated the stock have averaged $199.06 as their price target over the next twelve months.
With the price target reduced from $215 to $210, Morgan Stanley maintained Overweight rating for Apple Inc (NASDAQ: AAPL).
In other news, Maestri Luca, Senior Vice President, CFO sold 31,685 shares of the company’s stock on Oct 09. The stock was sold for $5,661,923 at an average price of $178.69. Upon completion of the transaction, the Senior Vice President, CFO now directly owns 107,661 shares in the company, valued at $18.33 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 06, COO WILLIAMS JEFFREY E sold 69,785 shares of the business’s stock. A total of $12,351,945 was realized by selling the stock at an average price of $177.00. This leaves the insider owning 489,817 shares of the company worth $83.41 million. Insiders disposed of 1,906,164 shares of company stock worth roughly $324.6 million over the past 1 year. A total of 0.09% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AAPL stock. A new stake in Apple Inc shares was purchased by CERITY PARTNERS LLC during the first quarter worth $933,376,000. JANNEY MONTGOMERY SCOTT LLC invested $823,146,000 in shares of AAPL during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Apple Inc valued at approximately $696,526,000. GRANITE BAY WEALTH MANAGEMENT, LLC acquired a new stake in AAPL for approximately $423,038,000. TIAA TRUST, NATIONAL ASSOCIATION purchased a new stake in AAPL valued at around $314,080,000 in the second quarter.
Apple Inc (NASDAQ: AAPL) opened at $169.02 on Monday. During the past 12 months, Apple Inc has had a low of $124.17 and a high of $198.23. As of last week, the company has a debt-to-equity ratio of 1.81, a current ratio of 0.98, and a quick ratio of 0.92. According to the stock market information, the enterprise value for the company is $2.68T, which is based on a 28.62 price-to-earnings ratio, a 4.56 price-to-earnings-growth ratio, and a beta of 1.30. The fifty day moving average price for AAPL is $176.90 and a two-hundred day moving average price translates $170.53 for the stock.
The latest earnings results from Apple Inc (NASDAQ: AAPL) was released for Jun, 2023. The net profit margin was 24.68% and return on equity was 160.09% for AAPL. The company reported revenue of $81.8 billion for the quarter, compared to $82.96 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.4 percent.
Moreover, the firm recently paid out its quarterly dividend on 08/17/2023. Investors who held shares on 08/14/2023 were paid a $0.24 dividend. On an annualized basis, this represents a $0.96 dividend and a 0.56% percent yield. There was an ex-dividend date of 08/11/2023 for this dividend. In terms of dividend payout ratio, AAPL is presently at 14.72%.
Apple Inc(AAPL) Company Profile
Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod. It also provides AppleCare support and cloud services; and operates various platforms, including the App Store that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts. In addition, the company offers various services, such as Apple Arcade, a game subscription service; Apple Fitness+, a personalized fitness service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV+, which offers exclusive original content; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property. The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers, wholesalers, retailers, and resellers. Apple Inc. was incorporated in 1977 and is headquartered in Cupertino, California.
