Apple (NASDAQ:AAPL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Apple (NASDAQ:AAPL) had its target price increased by JPMorgan Chase & Co. from $260.00 to $270.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the iPhone maker’s stock.

Several other equities analysts have also recently weighed in on AAPL. Bank of America raised their price target on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday. Maxim Group lifted their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Monness Crespi & Hardt boosted their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Barclays raised their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday. Finally, The Goldman Sachs Group dropped their target price on Apple from $286.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Trading Down 0.7 %

Shares of NASDAQ AAPL opened at $236.00 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple has a twelve month low of $164.07 and a twelve month high of $260.10. The company’s fifty day moving average is $241.68 and its 200-day moving average is $230.84. The stock has a market cap of $3.55 trillion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 2.39 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. Equities research analysts predict that Apple will post 7.34 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, February 10th. Apple’s dividend payout ratio is currently 16.45%.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the 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 owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Drystone LLC bought a new stake in shares of Apple in the fourth quarter valued at $25,000. Bull Oak Capital LLC increased its holdings in Apple by 252.3% in 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 purchased a new stake in Apple during the second quarter valued at about $42,000. Life Planning Partners Inc bought a new position in Apple during the fourth quarter worth about $47,000. Finally, 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 worth $69,000 after purchasing an additional 144 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.