Apple (NASDAQ:AAPL) Price Target Raised to $275.00

Apple (NASDAQ:AAPL) had its price target raised by Evercore ISI from $260.00 to $275.00 in a research report sent to investors on Tuesday, MarketBeat.com reports. Evercore ISI currently has an outperform rating on the iPhone maker’s stock.

AAPL has been the topic of several other research reports. TD Cowen reiterated a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Citigroup lifted their price target on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Wedbush restated an “outperform” rating and set a $325.00 price objective on shares of Apple in a research report on Friday, March 14th. JPMorgan Chase & Co. raised their price objective on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. 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 two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Trading Down 0.5 %

Shares of AAPL stock opened at $214.10 on Tuesday. Apple has a 12-month low of $164.08 and a 12-month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $232.19 and its 200 day moving average is $233.33. The stock has a market capitalization of $3.22 trillion, a P/E ratio of 33.98, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts expect that Apple will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s dividend payout ratio is presently 15.87%.

Hedge Funds Weigh In On Apple

A number of large investors have recently made changes to their positions in the company. O Connor Financial Group LLC boosted its stake in shares of Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after purchasing an additional 41 shares during the period. 1620 Investment Advisors Inc. boosted its stake in shares of Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC boosted its stake in shares of Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the period. Advanced Portfolio Management LLC boosted its position in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after buying an additional 47 shares during the period. Finally, Menard Financial Group LLC boosted its position in Apple by 0.4% in the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after buying an additional 48 shares during the period. 67.73% of the stock is 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.