Apple (NASDAQ:AAPL) Earns “Buy” Rating from Rosenblatt Securities

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Monday,Benzinga reports. They presently have a $262.00 price target on the iPhone maker’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 9.96% from the stock’s current price.

AAPL has been the subject of several other reports. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price for the company. in a research note on Tuesday, January 21st. Citigroup increased their target price on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $325.00 price target on shares of Apple in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price objective on Apple from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $238.05.

Apple Trading Up 3.7 %

Shares of NASDAQ AAPL opened at $238.26 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple has a 12 month low of $164.07 and a 12 month high of $260.10. The company has a market cap of $3.58 trillion, a price-to-earnings ratio of 39.19, a P/E/G ratio of 2.19 and a beta of 1.20. The business has a fifty day simple moving average of $240.97 and a 200-day simple moving average of $230.70.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. Sell-side analysts predict that Apple will post 7.43 EPS for the current year.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Several hedge funds have recently bought and sold shares of AAPL. Drystone LLC bought a new position in Apple in the 4th quarter valued at about $25,000. Bull Oak Capital LLC grew its position in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its holdings in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda bought a new stake in Apple in the 3rd quarter valued at $71,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.