Apple (NASDAQ:AAPL) PT Raised to $300.00

Apple (NASDAQ:AAPL) had its price target hoisted by Loop Capital to $300.00 in a research report issued on Monday, Stock Target Advisor reports. The firm presently has a “buy” rating on the iPhone maker’s stock. Loop Capital’s price target would indicate a potential upside of 27.19% from the stock’s current price.

AAPL has been the subject of a number of other research reports. Moffett Nathanson assumed coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. UBS Group reiterated a “hold” rating and set a $236.00 price objective on shares of Apple in a research report on Wednesday, October 16th. Piper Sandler Companies restated a “neutral” rating and issued a $225.00 price target (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Wedbush restated an “outperform” rating and issued a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Robert W. Baird upped their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Trading Down 0.3 %

Apple stock opened at $235.86 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The business’s fifty day simple moving average is $226.46 and its two-hundred day simple moving average is $209.33. Apple has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Apple will post 6.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apple

Hedge funds have recently modified their holdings of the stock. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. Cordant Inc. lifted its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares in the last quarter. Access Investment Management LLC purchased a new position in shares of Apple during the 1st quarter valued at approximately $140,000. Finally, Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares in the last quarter. 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.