Apple (NASDAQ:AAPL) Price Target Raised to $250.00 at Raymond James

Apple (NASDAQ:AAPL) had its price target boosted by Raymond James to $250.00 in a research report sent to investors on Monday morning,Stock Target Advisor reports. The firm currently has a buy rating on the iPhone maker’s stock.

Several other equities analysts have also issued reports on the company. Maxim Group boosted their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup upped their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

Apple Trading Up 0.8 %

AAPL opened at $229.98 on Monday. The firm has a 50 day simple moving average of $241.01 and a 200 day simple moving average of $230.79. Apple has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 EPS. On average, sell-side analysts anticipate that Apple will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bull Oak Capital LLC grew its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc increased its stake in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the third quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Apple in the third quarter worth approximately $77,000. Institutional investors and hedge funds own 67.73% 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.