Apple (NASDAQ:AAPL) Stock Rating Reaffirmed by Credit Suisse Group
Credit Suisse Group reiterated their neutral rating on shares of Apple (NASDAQ:AAPL) in a report published on Monday morning, AnalystRatings.com reports. Credit Suisse Group currently has a $209.00 price target on the iPhone maker’s stock.
Several other equities research analysts also recently issued reports on AAPL. Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $270.00 to $288.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Cascend Securities restated a buy rating and issued a $240.00 price objective (up previously from $210.00) on shares of Apple in a research note on Thursday, June 20th. Loop Capital raised their price objective on shares of Apple to $190.00 and gave the stock a hold rating in a research note on Wednesday, May 1st. Daiwa Capital Markets set a $212.00 price objective on shares of Apple and gave the stock a buy rating in a research note on Wednesday, June 5th. Finally, Wedbush set a $11.00 price objective on shares of Sangamo Therapeutics and gave the stock a hold rating in a research note on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $209.68.
Shares of AAPL stock opened at $203.35 on Monday. Apple has a 12 month low of $142.00 and a 12 month high of $233.47. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.32. The company’s 50 day moving average is $195.24. The firm has a market capitalization of $940.92 billion, a P/E ratio of 17.07, a PEG ratio of 1.73 and a beta of 1.23.
Apple declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 30th that permits the company to repurchase $75.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the completion of the transaction, the director now directly owns 1,168,283 shares of the company’s stock, valued at $246,344,153.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 56,411 shares of Apple stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $210.36, for a total value of $11,866,617.96. Following the transaction, the chief operating officer now directly owns 151,187 shares of the company’s stock, valued at $31,803,697.32. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AAPL. Thoroughbred Financial Services LLC lifted its holdings in shares of Apple by 19,949.3% during the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock valued at $1,005,513,000 after acquiring an additional 10,004,976 shares during the period. Morgan Stanley lifted its holdings in shares of Apple by 9.7% during the third quarter. Morgan Stanley now owns 39,188,032 shares of the iPhone maker’s stock valued at $8,846,307,000 after acquiring an additional 3,452,792 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of Apple by 88.4% during the third quarter. Federated Investors Inc. PA now owns 1,192,947 shares of the iPhone maker’s stock valued at $269,295,000 after acquiring an additional 559,737 shares during the period. H&H International Investment LLC lifted its holdings in shares of Apple by 16.5% during the second quarter. H&H International Investment LLC now owns 3,877,900 shares of the iPhone maker’s stock valued at $785,333,000 after acquiring an additional 550,300 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of Apple by 57.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,235,798 shares of the iPhone maker’s stock valued at $170,524,000 after buying an additional 450,098 shares during the last quarter. 58.51% of the stock is owned by institutional investors.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
Further Reading: What does a bar chart display?
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.