Brokerages Set Apple Inc. (NASDAQ:AAPL) Target Price at $243.65

Apple Inc. (NASDAQ:AAPL) has been given a consensus rating of “Moderate Buy” by the thirty-six ratings firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, twenty-one have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $243.65.

Several research analysts have recently weighed in on AAPL shares. Barclays boosted their price target on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, January 31st. UBS Group boosted their price target on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein boosted their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research note on Wednesday, February 19th.

Apple Stock Up 1.9 %

Shares of NASDAQ:AAPL opened at $218.27 on Friday. The stock has a fifty day simple moving average of $231.82 and a two-hundred day simple moving average of $233.42. The stock has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.44 and a beta of 1.18. 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.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, research analysts anticipate that Apple will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. Apple’s dividend payout ratio is currently 15.87%.

Hedge Funds Weigh In On Apple

Institutional investors and hedge funds have recently modified their holdings of the stock. Drystone LLC acquired a new position in Apple in the 4th quarter worth about $25,000. Bull Oak Capital LLC raised its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Conquis Financial LLC acquired a new position in Apple in the 4th quarter worth about $63,000. LSV Asset Management acquired a new position in Apple in the 4th quarter worth about $65,000. Finally, SPX Gestao de Recursos Ltda acquired a new position in Apple in the 3rd quarter worth about $71,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

About Apple

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.