Apple (NASDAQ:AAPL) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Apple (NASDAQ:AAPL) had its target price raised by investment analysts at Rosenblatt Securities from $261.00 to $262.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the iPhone maker’s stock. Rosenblatt Securities’ target price suggests a potential upside of 17.54% from the company’s current price.

Several other equities research analysts have also commented on AAPL. The Goldman Sachs Group lifted their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Citigroup boosted their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Loop Capital lifted their price target on Apple to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.23.

Apple Stock Down 1.3 %

Shares of NASDAQ AAPL opened at $222.91 on Friday. The business has a 50-day moving average of $227.18 and a two-hundred day moving average of $212.33. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. Apple has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.49 by $0.15. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts forecast that Apple will post 6.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 value of $50,275,897.56. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 in the last quarter. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several hedge funds have recently bought and sold shares of AAPL. Sar Wealth Management Group LLC lifted its stake in shares of Apple by 10.8% during the 1st quarter. Sar Wealth Management Group LLC now owns 10,402 shares of the iPhone maker’s stock worth $1,784,000 after purchasing an additional 1,013 shares during the period. Agate Pass Investment Management LLC lifted its position in Apple by 2.5% during the first quarter. Agate Pass Investment Management LLC now owns 45,212 shares of the iPhone maker’s stock worth $7,753,000 after buying an additional 1,098 shares during the period. Franklin Street Advisors Inc. NC boosted its stake in Apple by 0.7% in the 1st quarter. Franklin Street Advisors Inc. NC now owns 418,593 shares of the iPhone maker’s stock worth $71,780,000 after buying an additional 3,057 shares during the last quarter. Viking Fund Management LLC grew its holdings in Apple by 15.0% in the 1st quarter. Viking Fund Management LLC now owns 23,000 shares of the iPhone maker’s stock valued at $3,944,000 after buying an additional 3,000 shares during the period. Finally, ERn Financial LLC increased its stake in shares of Apple by 2.0% during the 1st quarter. ERn Financial LLC now owns 41,893 shares of the iPhone maker’s stock valued at $7,184,000 after acquiring an additional 809 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

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.