Apple Inc. (NASDAQ:AAPL) Receives Consensus Rating of “Hold” from Analysts

Shares of Apple Inc. (NASDAQ:AAPL) have been given an average recommendation of “Hold” by the forty-three analysts that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, twenty-four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $274.19.

AAPL has been the topic of a number of research reports. Monness Crespi & Hardt lifted their price target on shares of Apple from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Longbow Research raised shares of Apple from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Thursday, October 10th. Citigroup lifted their price target on shares of Apple from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Bank of America lifted their price target on shares of Apple from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein reaffirmed a “hold” rating and issued a $300.00 price target on shares of Apple in a research note on Friday.

In related news, SVP Deirdre O’brien sold 12,459 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $234.04, for a total transaction of $2,915,904.36. Following the transaction, the senior vice president now directly owns 57,819 shares in the company, valued at $13,531,958.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 3,932 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $233.26, for a total transaction of $917,178.32. Following the transaction, the insider now owns 15,464 shares in the company, valued at $3,607,132.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,785 shares of company stock worth $13,472,882. 0.05% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Kahn Brothers Group Inc. DE acquired a new position in Apple during the third quarter worth $112,000. Fulcrum Equity Management acquired a new position in shares of Apple in the third quarter valued at $135,000. Belvedere Advisors LLC acquired a new position in shares of Apple in the second quarter valued at $119,000. C M Bidwell & Associates Ltd. increased its holdings in shares of Apple by 339.1% in the second quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock valued at $151,000 after purchasing an additional 590 shares during the last quarter. Finally, Smart Portfolios LLC acquired a new position in shares of Apple in the third quarter valued at $208,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

AAPL traded down $4.28 during trading on Tuesday, reaching $312.68. The company had a trading volume of 40,441,939 shares, compared to its average volume of 34,390,543. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. Apple has a 12 month low of $150.05 and a 12 month high of $317.57. The business’s fifty day moving average price is $283.66 and its 200 day moving average price is $237.71. The company has a market cap of $1,360.50 billion, a P/E ratio of 26.30, a PEG ratio of 2.25 and a beta of 1.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The firm had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Apple will post 13.15 EPS for the current fiscal year.

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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Analyst Recommendations for Apple (NASDAQ:AAPL)

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