Apple Inc. (NASDAQ:AAPL) shares hit a new 52-week high during mid-day trading on Monday after Argus raised their price target on the stock from $185.00 to $210.00. Argus currently has a buy rating on the stock. Apple traded as high as $174.63 and last traded at $174.57, with a volume of 19271269 shares traded. The stock had previously closed at $172.50.

Several other analysts have also issued reports on the stock. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Monday, July 31st. Wells Fargo & Company reiterated a “market perform” rating and set a $140.00 price target on shares of Apple in a research report on Saturday, July 22nd. KeyCorp reiterated an “equal weight” rating on shares of Apple in a research report on Friday, August 4th. Morgan Stanley increased their price target on shares of Apple from $177.00 to $182.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Finally, Barclays PLC reiterated a “hold” rating and set a $146.00 price target on shares of Apple in a research report on Monday, September 4th. Seven investment analysts have rated the stock with a hold rating and forty-six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $199.14.

In other news, insider Johny Srouji sold 5,892 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the sale, the insider now owns 70,358 shares of the company’s stock, valued at approximately $11,327,638. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $154.21, for a total transaction of $9,775,063.48. The disclosure for this sale can be found here. Insiders have sold a total of 411,389 shares of company stock worth $65,364,467 over the last three months. 0.08% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at about $400,000. Blue Sky Asset Management LLC purchased a new stake in shares of Apple during the 2nd quarter valued at about $108,000. FNY Managed Accounts LLC boosted its holdings in shares of Apple by 852.4% during the 2nd quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 716 shares during the last quarter. Hefty Wealth Partners boosted its holdings in shares of Apple by 27.6% during the 2nd quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock valued at $115,000 after acquiring an additional 174 shares during the last quarter. Finally, American Beacon Advisors Inc. purchased a new stake in shares of Apple during the 1st quarter valued at about $117,000. 60.30% of the stock is currently owned by hedge funds and other institutional investors.

The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $896,860.00, a price-to-earnings ratio of 18.75, a PEG ratio of 1.40 and a beta of 1.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion for the quarter, compared to the consensus estimate of $50.71 billion. During the same quarter last year, the firm posted $1.50 EPS. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. sell-side analysts expect that Apple Inc. will post 11.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 27.42%.

ILLEGAL ACTIVITY NOTICE: “Apple Inc. (AAPL) Hits New 12-Month High After Analyst Upgrade” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/11/08/apple-inc-aapl-hits-new-12-month-high-after-analyst-upgrade.html.

Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Receive News & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.