Apple (NASDAQ:AAPL) Price Target Raised to $250.00 at TD Cowen

Apple (NASDAQ:AAPL) had its target price upped by research analysts at TD Cowen from $220.00 to $250.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a “buy” rating on the iPhone maker’s stock. TD Cowen’s price objective would indicate a potential upside of 15.21% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Apple from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Melius Research boosted their price objective on Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Loop Capital raised Apple from a “hold” rating to a “buy” rating and lifted their price target for the stock from $170.00 to $300.00 in a report on Monday, July 15th. Canaccord Genuity Group increased their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Cfra upped their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.97.

Apple Price Performance

Shares of NASDAQ AAPL opened at $217.00 on Monday. Apple has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a market cap of $3.33 trillion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24. The business’s 50 day moving average price is $210.84 and its two-hundred day moving average price is $190.13. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period in the previous year, the firm earned $1.52 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that Apple will post 6.59 EPS for the current year.

Apple declared that its Board of Directors has approved a share buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently made changes to their positions in AAPL. Christopher J. Hasenberg Inc bought a new stake in Apple in the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC boosted its stake in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple in the 4th quarter valued at $39,000. Gilfoyle & Co LLC increased its position in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. raised its stake in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

About Apple

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.