Apple (NASDAQ:AAPL) PT Set at $209.00 by Credit Suisse Group

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Credit Suisse Group set a $209.00 price objective on Apple (NASDAQ:AAPL) in a research note published on Tuesday, Borsen Zeitung reports. The brokerage currently has a neutral rating on the iPhone maker’s stock.

AAPL has been the subject of several other reports. BidaskClub lowered Apple from a buy rating to a hold rating in a report on Tuesday, August 6th. Cowen increased their price objective on Apple from $220.00 to $250.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Cascend Securities reaffirmed a buy rating and issued a $240.00 price target (up from $210.00) on shares of Apple in a report on Thursday, June 20th. Evercore ISI started coverage on Apple in a report on Thursday, June 6th. They issued an outperform rating and a $205.00 price target for the company. Finally, Argus raised their price target on Apple to $250.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $216.11.

Shares of NASDAQ AAPL opened at $201.74 on Tuesday. The stock has a fifty day simple moving average of $203.69 and a two-hundred day simple moving average of $191.64. Apple has a 1-year low of $142.00 and a 1-year high of $233.47. The firm has a market cap of $944.37 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. During the same period in the prior year, the company earned $2.34 earnings per share. Apple’s revenue was up 1.0% compared to the same quarter last year. Analysts forecast that Apple will post 11.58 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, August 9th. Apple’s dividend payout ratio is 25.86%.

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

In other Apple news, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the sale, the director now owns 1,150,783 shares in the company, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Insiders have sold 39,376 shares of company stock valued at $8,226,574 in the last three months. 0.05% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Semmax Financial Advisors Inc. purchased a new position in shares of Apple in the fourth quarter worth about $50,000. Avondale Wealth Management increased its holdings in shares of Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares during the period. NuWave Investment Management LLC increased its holdings in shares of Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after buying an additional 449 shares during the period. Horan Securities Inc. increased its holdings in shares of Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after buying an additional 221 shares during the period. Finally, 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 worth $151,000 after buying an additional 590 shares during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.

About Apple

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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