Apple (NASDAQ:AAPL) PT Raised to $295.00 at Tigress Financial

Apple (NASDAQ:AAPL) had its target price lifted by Tigress Financial from $245.00 to $295.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a strong-buy rating on the iPhone maker’s stock.

Other equities research analysts have also issued reports about the company. Moffett Nathanson began coverage on Apple in a research report on Monday, August 19th. They issued a neutral rating and a $211.00 price objective on the stock. UBS Group reiterated a neutral rating and issued a $190.00 price objective on shares of Apple in a research report on Monday, July 1st. Cfra lifted their price objective on Apple from $240.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Itau BBA Securities upgraded Apple from an underperform rating to a market perform rating and lifted their price objective for the stock from $162.00 to $188.00 in a research report on Friday, May 3rd. Finally, Melius Research reiterated a buy rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $237.30.

Apple Price Performance

AAPL opened at $229.00 on Wednesday. The stock’s 50 day simple moving average is $221.45 and its 200 day simple moving average is $195.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple has a 1 year low of $164.07 and a 1 year high of $237.23. The firm has a market cap of $3.51 trillion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the company earned $1.26 EPS. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts predict that Apple will post 6.61 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 over the last quarter. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Apple

Hedge funds have recently bought and sold shares of the company. Yeomans Consulting Group Inc. purchased a new stake in Apple during the fourth quarter valued at $1,713,000. Raleigh Capital Management Inc. increased its position in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA bought a new stake in Apple during the fourth quarter valued at about $38,406,000. Barden Capital Management Inc. grew its holdings in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the period. Finally, Sunpointe LLC bought a new stake in Apple during the fourth quarter valued at about $4,782,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple 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.