Research analysts at Goldman Sachs Group began coverage on shares of Apple (NASDAQ:AAPL) in a report released on Wednesday. The brokerage set a “neutral” rating and a $161.00 price target on the iPhone maker’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 3.77% from the company’s previous close.
A number of other equities analysts also recently weighed in on AAPL. BMO Capital Markets downgraded shares of Apple from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $162.00 to $166.00 in a report on Wednesday, January 31st. ValuEngine upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Sanford C. Bernstein downgraded shares of Apple from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $170.00 in a report on Friday, February 2nd. William Blair restated an “outperform” rating on shares of Apple in a report on Friday, February 2nd. Finally, Morningstar set a $170.00 target price on shares of Apple and gave the stock a “neutral” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $200.43.
Apple (NASDAQ AAPL) opened at $155.15 on Wednesday. The firm has a market cap of $787,230.00, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.23 and a beta of 1.33. Apple has a fifty-two week low of $131.12 and a fifty-two week high of $180.10. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.
In related news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares in the company, valued at $2,401,302.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johny Srouji sold 10,368 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now owns 81,560 shares in the company, valued at $14,246,900.80. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock worth $22,115,155 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of AAPL. Hoertkorn Richard Charles lifted its holdings in shares of Apple by 1.2% in the second quarter. Hoertkorn Richard Charles now owns 45,281 shares of the iPhone maker’s stock worth $6,521,000 after acquiring an additional 549 shares during the last quarter. Moon Capital Management LLC lifted its holdings in shares of Apple by 44.8% in the second quarter. Moon Capital Management LLC now owns 8,430 shares of the iPhone maker’s stock worth $1,214,000 after acquiring an additional 2,610 shares during the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of Apple by 0.7% in the second quarter. Leavell Investment Management Inc. now owns 99,376 shares of the iPhone maker’s stock worth $14,312,000 after acquiring an additional 681 shares during the last quarter. Fenimore Asset Management Inc. bought a new position in shares of Apple in the second quarter worth about $204,000. Finally, Chesley Taft & Associates LLC lifted its holdings in shares of Apple by 0.5% in the second quarter. Chesley Taft & Associates LLC now owns 83,886 shares of the iPhone maker’s stock worth $12,081,000 after acquiring an additional 403 shares during the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “Apple (AAPL) Now Covered by Analysts at Goldman Sachs Group” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://sportsperspectives.com/2018/02/09/apple-aapl-now-covered-by-analysts-at-goldman-sachs-group.html.
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 & 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.