UBS Group Reiterates “$185.00” Price Target for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPLGet Rating) received a $185.00 price objective from equities research analysts at UBS Group in a research note issued on Thursday, Borsen Zeitung reports. UBS Group’s price objective suggests a potential upside of 20.06% from the stock’s previous close.

A number of other research firms have also issued reports on AAPL. Credit Suisse Group set a $169.00 price target on shares of Apple in a research report on Friday, April 29th. KeyCorp dropped their price objective on shares of Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. JPMorgan Chase & Co. set a $200.00 price objective on shares of Apple in a research note on Friday, July 1st. The Goldman Sachs Group set a $130.00 price target on shares of Apple in a research note on Tuesday. Finally, Fundamental Research decreased their price objective on Apple from $179.32 to $175.24 and set an “average” rating on the stock in a report on Friday, May 6th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $182.73.

Apple Stock Performance

AAPL opened at $154.09 on Thursday. Apple has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a market cap of $2.49 trillion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.98 and a beta of 1.19. The company’s 50 day moving average is $142.90 and its 200 day moving average is $158.03. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Apple will post 6.09 EPS for the current year.

Apple announced that its board has authorized a stock buyback program on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several institutional investors and hedge funds have recently modified their holdings of AAPL. Elk River Wealth Management LLC increased its position in Apple by 49.0% during the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after acquiring an additional 54,989 shares during the period. Piscataqua Savings Bank boosted its position in Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after buying an additional 684 shares in the last quarter. Fountainhead AM LLC grew its stake in shares of Apple by 11.6% during the fourth quarter. Fountainhead AM LLC now owns 45,544 shares of the iPhone maker’s stock worth $7,732,000 after buying an additional 4,738 shares during the last quarter. Primoris Wealth Advisors LLC acquired a new stake in shares of Apple during the fourth quarter valued at about $4,282,000. Finally, Red Door Wealth Management LLC raised its stake in shares of Apple by 3.3% during the first quarter. Red Door Wealth Management LLC now owns 96,983 shares of the iPhone maker’s stock valued at $16,934,000 after acquiring an additional 3,087 shares during the last quarter. 57.98% of the stock is currently owned by institutional investors and hedge funds.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Featured Articles



Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *