Robert W. Baird Raises Apple (NASDAQ:AAPL) Price Target to $204.00

Posted by on Aug 1st, 2023

Apple (NASDAQ:AAPL – Get Free Report) had its target price raised by equities research analysts at Robert W. Baird from $180.00 to $204.00 in a research note issued to investors on Tuesday, FlyOnTheWall reports. Robert W. Baird’s price target would indicate a potential upside of 3.84% from the stock’s previous close.

Several other brokerages also recently commented on AAPL. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Monday, May 22nd. Jefferies Financial Group boosted their target price on shares of Apple from $210.00 to $225.00 in a research note on Tuesday, July 18th. Needham & Company LLC raised their price target on Apple from $170.00 to $195.00 and gave the company a “buy” rating in a report on Friday, May 5th. Wedbush restated an “outperform” rating and issued a $205.00 price target on shares of Apple in a research report on Monday, April 17th. Finally, Rosenblatt Securities boosted their price objective on shares of Apple from $173.00 to $198.00 and gave the company a “buy” rating in a report on Friday, May 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.82.

Apple Trading Up 0.3 %

NASDAQ AAPL opened at $196.45 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.56. Apple has a 1-year low of $124.17 and a 1-year high of $198.23. The firm’s fifty day simple moving average is $186.35 and its 200-day simple moving average is $167.40. The company has a market capitalization of $3.09 trillion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 2.88 and a beta of 1.28.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $94.84 billion for the quarter, compared to the consensus estimate of $92.84 billion. Apple had a net margin of 24.49% and a return on equity of 165.72%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. As a group, sell-side analysts anticipate that Apple will post 6 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a stock buyback program on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,092 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the transaction, the insider now directly owns 33,946 shares in the company, valued at approximately $5,881,483.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apple

Several large investors have recently bought and sold shares of the business. Parker Financial LLC lifted its position in Apple by 1.2% during the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock worth $881,000 after acquiring an additional 54 shares during the period. MKT Advisors LLC raised its stake in shares of Apple by 0.5% during the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after buying an additional 60 shares in the last quarter. Professional Financial Advisors LLC raised its stake in shares of Apple by 0.5% during the 2nd quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after buying an additional 62 shares in the last quarter. Aspire Capital Advisors LLC raised its stake in shares of Apple by 0.5% during the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after buying an additional 64 shares in the last quarter. Finally, Legacy Financial Group LLC raised its stake in shares of Apple by 0.6% during the 2nd quarter. Legacy Financial Group LLC now owns 10,949 shares of the iPhone maker’s stock worth $2,124,000 after buying an additional 64 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors.

Apple Company Profile

(Get Free Report)

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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