Apple: Credit Suisse Group has set a price target of $169.00 for Apple (NASDAQ:AAPL)

Finally, Sanford C. Bernstein reiterated a hold rating and set a $170.00 target price on shares of Apple in a report on Wednesday, January 19th. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $189.10.

According to Marketbeat, Credit Suisse Group set a $169.00 target price for Apple (NASDAQ:AAPL – Get Rating) in a research released on Friday morning. A number of different research studies have been written about AAPL. In a research note issued on Friday, January 28th, DA Davidson raised their price target on Apple from $170.00 to $185.00. In a research note issued on Friday, January 28th, New Street Research upgraded Apple from a sell to a neutral rating and set a $165.00 price objective for the firm. In a study released on Friday, April 8th, Deutsche Bank Rese… set a target price of $210.00 on Apple. In a research note, Oppenheimer raised Apple’s target price from $170.00 to $190.00 and gave the company an outperform rating.

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AAPL stock opened at $157.65 on Friday. The business’s fifty day moving average is $165.70 and its 200-day moving average is $164.93. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.48. The company has a market cap of $2.57 trillion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 2.04 and a beta of 1.19. Apple has a twelve month low of $122.25 and a twelve month high of $182.94.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.09. Apple had a net margin of 26.58% and a return on equity of 149.81%. The business had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that Apple will post 6.15 earnings per share for the current fiscal year.
Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Investors of record on Monday, May 9th will be paid a $0.23 dividend. This is an increase from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, May 6th. Apple’s dividend payout ratio (DPR) is 14.29%.

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 3rd. The shares were sold at an average price of $174.78, for a total transaction of $4,369,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 1,986 shares of the firm’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $173.29, for a total transaction of $344,153.94. The disclosure for this sale can be found here. Insiders sold a total of 170,085 shares of company stock valued at $30,047,365 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. OLD Mission Capital LLC bought a new position in Apple in the third quarter valued at approximately $1,238,000. Morgan Stanley increased its stake in Apple by 2.8% in the second quarter. Morgan Stanley now owns 125,859,709 shares of the iPhone maker’s stock valued at $17,237,745,000 after acquiring an additional 3,472,624 shares during the last quarter. Asio Capital LLC increased its stake in Apple by 2.9% in the third quarter. Asio Capital LLC now owns 102,929 shares of the iPhone maker’s stock valued at $14,564,000 after acquiring an additional 2,876 shares during the last quarter. LaFleur & Godfrey LLC increased its stake in Apple by 1.4% in the third quarter. LaFleur & Godfrey LLC now owns 356,625 shares of the iPhone maker’s stock valued at $50,462,000 after acquiring an additional 4,794 shares during the last quarter. Finally, Kavar Capital Partners Group LLC increased its stake in Apple by 4.2% in the third quarter. Kavar Capital Partners Group LLC now owns 152,932 shares of the iPhone maker’s stock valued at $21,640,000 after acquiring an additional 6,114 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

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.

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