Apple Price Target Increased to $215.00

Apple Inc. (NASDAQ:AAPL) has seen a rise in its price target, which was increased from $203.00 to $215.00 by Maxim Group, as reported in a recent research publication. Maxim Group has also assigned a hold rating on Apple’s stock.

Other research analysts have recently offered their insights on AAPL as well. For instance, Monness Crespi & Hardt maintained a "buy" rating and set a price target of $245.00 on Apple shares in a report published on September 9th. On July 9th, Piper Sandler Companies reaffirmed a "neutral" rating while adjusting their price target to $225.00 from a previous $190.00. Oppenheimer reiterated their "buy" rating and proposed a target of $250.00 in their research note dated October 1st. New Street Research also maintained a "neutral" rating and set a price target of $225.00 in their findings published on September 25th. Additionally, TD Cowen raised their price objective from $220.00 to $250.00, rating the company as a buy on July 29th.

The research indicates a somewhat mixed sentiment towards Apple stock, with two analysts issuing sell ratings, twelve giving a hold rating, twenty-two suggesting a buy, and one analyst rating it as a strong buy. According to MarketBeat, the overall analyst consensus reflects a "Moderate Buy" rating with an average price target of $236.23.

Apple's Stock Performance

On Friday, Apple shares opened at $222.91. The company's market capitalization stands at $3.39 trillion, accompanied by a price-to-earnings (P/E) ratio of 36.66, a P/E growth (P/E/G) ratio of 2.41, and a beta of 1.24. Apple's stock shows a 50-day moving average of $227.18 and a 200-day moving average of $212.64. Over the last year, the stock reached a low of $164.07 and a high of $237.49. Financial indicators include a debt-to-equity ratio of 1.29, a current ratio of 0.95, and a quick ratio of 0.91.

Apple reported earnings on October 31st, revealing an earnings per share (EPS) of $1.64 for the quarter, surpassing analyst expectations, which had forecasted an EPS of $1.60. The company also recorded a revenue of $94.93 billion against analysts’ predictions of $94.52 billion. Apple's net margin was reported at 23.97% with a remarkable return on equity of 145.09%, showing a year-over-year revenue increase of 6.1%. Last year at the same quarter, Apple posted an EPS of $1.46, and analysts predict an overall EPS of 7.48 for the current year.

Dividend Announcement by Apple

Recently, Apple declared a quarterly dividend set to be paid on November 14th. The dividend stands at $0.25 per share, leading to an annualized dividend of $1.00, which reflects a dividend yield of 0.45%. To be eligible for this dividend, investors must hold shares by November 11th, with the ex-dividend date occurring on November 8th. Correspondingly, Apple's dividend payout ratio is noted at 16.45%.

Insider Transactions at Apple

In other company news, CEO Timothy D. Cook sold 223,986 shares on October 2nd at an average price of $224.46, amounting to approximately $50.28 million. As a result of this sale, Cook's ownership in Apple stands at 3,280,180 shares, valued around $736.27 million. This stock sale did not affect the percentage of his ownership in the company. Furthermore, insider Chris Kondo also sold 5,178 shares on August 9th for an average of $216.50, totaling around $1.12 million. Following this transaction, Kondo holds 24,125 shares in Apple valued at approximately $5.22 million. Over the past three months, insiders have sold 417,924 shares for a value of $94.14 million, with insiders currently owning 0.06% of the total stock.

Institutional Investment Activities in Apple

Recent changes in institutional ownership have also been reported. For instance, Bellwether Advisors LLC boosted its stake in Apple by 387.3% during the second quarter, acquiring an additional 19,352 shares, resulting in a total of 24,349 shares valued at $5.13 million. Gentry Private Wealth LLC made a new stake purchase in Apple worth $876,000 during the same quarter. WT Asset Management Ltd also entered a new position valued at $80.06 million in the second quarter. TD Asset Management Inc increased its holdings by 10.3%, bringing their total shares to 16,745,201, valued at $3.53 billion after acquiring an extra 1.56 million shares. Moreover, Councilmark Asset Management LLC initiated a new stake in Apple valued at $11.78 million in the first quarter. Institutional investors and hedge funds currently own 60.41% of Apple's stock.

About Apple Inc.

Apple Inc. is a multinational corporation known for designing, manufacturing, and marketing a diverse range of consumer electronics, personal computers, tablets, wearables, and various accessories worldwide. Its product lineup includes the iPhone, Mac personal computers, iPad tablets, as well as wearables and home accessories like AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Apple, Stock, Investment