Apple (NASDAQ:AAPL – Get Free Report)‘s stock had its “buy” rating reissued by stock analysts at TD Cowen in a research note issued to investors on Tuesday, MarketBeat reports.
A number of other equities research analysts have also issued reports on the stock. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Sanford C. Bernstein increased their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their price target on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays reduced their price objective on Apple from $184.00 to $183.00 and set an “underweight” rating for the company in a research note on Wednesday, January 22nd. Finally, UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.05.
Get Our Latest Report on Apple
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Apple will post 7.43 earnings per share for the current fiscal year.
Insider Buying and Selling at Apple
In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Institutional Investors Weigh In On Apple
Several hedge funds have recently made changes to their positions in AAPL. Drystone LLC bought a new position in shares of Apple during the 4th quarter worth about $25,000. Bull Oak Capital LLC lifted its stake in Apple by 252.3% during the third 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. Hershey Financial Advisers LLC acquired a new stake in Apple during the second quarter valued at approximately $42,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the 3rd quarter valued at approximately $71,000. Finally, Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. Institutional investors 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.
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