Canaccord Genuity Group Raises Apple (NASDAQ:AAPL) Price Target to $215.00

Apple (NASDAQ:AAPL - Get Free Report) had its price objective raised by equities research analysts at Canaccord Genuity Group from $200.00 to $215.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the iPhone maker's stock. Canaccord Genuity Group's price target indicates a potential upside of 17.24% from the company's previous close.

AAPL has been the subject of a number of other research reports. Redburn Partners lowered Apple to a "neutral" rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 10th. Citigroup cut their price target on shares of Apple from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Monday. Monness Crespi & Hardt boosted their target price on shares of Apple from $200.00 to $205.00 and gave the company a "buy" rating in a report on Friday. Robert W. Baird boosted their target price on shares of Apple from $186.00 to $200.00 and gave the company an "outperform" rating in a report on Monday, January 29th. Finally, Sanford C. Bernstein upgraded shares of Apple from a "market perform" rating to an "outperform" rating and set a $195.00 target price on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $203.72.

Apple Stock Performance

NASDAQ AAPL traded up $10.35 during trading on Friday, hitting $183.38. 163,110,196 shares of the company's stock traded hands, compared to its average volume of 62,045,676. The business has a 50 day moving average of $172.15 and a 200-day moving average of $181.57. Apple has a 12-month low of $164.07 and a 12-month high of $199.62. The stock has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.05 and a beta of 1.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm had revenue of $90.75 billion for the quarter, compared to analysts' expectations of $90.37 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company's revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Apple will post 6.53 earnings per share for the current fiscal year.

Insider Activity

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company's stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wyrmwood Management LLC boosted its position in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker's stock valued at $33,000 after purchasing an additional 69 shares during the period. Christopher J. Hasenberg Inc purchased a new position in shares of Apple during the first quarter worth approximately $35,000. Fidelis Capital Partners LLC increased its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker's stock valued at $35,000 after acquiring an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple in the 4th quarter valued at $39,000. Finally, Gilfoyle & Co LLC increased its stake in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker's stock valued at $40,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 60.41% 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.

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