TD Cowen Reaffirms Buy Rating for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by TD Cowen in a research report issued on Tuesday, MarketBeat.com reports.

A number of other analysts also recently commented on AAPL. Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Moffett Nathanson reissued a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Maxim Group raised their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $211.84 to $200.75 in a report on Tuesday, January 21st. Finally, Barclays lowered their target price on Apple from $184.00 to $183.00 and set an “underweight” rating on the stock in a report on Wednesday, January 22nd. Four research 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $238.05.

Apple Trading Up 0.5 %

NASDAQ:AAPL opened at $239.36 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock’s 50 day simple moving average is $241.17 and its 200-day simple moving average is $230.75. Apple has a 12-month low of $164.07 and a 12-month high of $260.10. The firm has a market cap of $3.60 trillion, a P/E ratio of 39.37, a PEG ratio of 2.19 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. Equities analysts anticipate 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 the firm’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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. MGB Wealth Management LLC grew its stake in shares of Apple by 7.9% in the fourth quarter. MGB Wealth Management LLC now owns 31,110 shares of the iPhone maker’s stock worth $7,801,000 after purchasing an additional 2,282 shares in the last quarter. Castellan Group grew its position in Apple by 3.3% in the 4th quarter. Castellan Group now owns 5,974 shares of the iPhone maker’s stock valued at $1,496,000 after buying an additional 192 shares in the last quarter. Morris Financial Concepts Inc. increased its stake in Apple by 2.1% during the 4th quarter. Morris Financial Concepts Inc. now owns 7,788 shares of the iPhone maker’s stock valued at $1,950,000 after buying an additional 162 shares during the period. Howard Bailey Securities LLC raised its position in shares of Apple by 52.1% during the 4th quarter. Howard Bailey Securities LLC now owns 17,040 shares of the iPhone maker’s stock worth $4,267,000 after buying an additional 5,840 shares in the last quarter. Finally, Hemington Wealth Management lifted its stake in shares of Apple by 0.8% in the 4th quarter. Hemington Wealth Management now owns 149,244 shares of the iPhone maker’s stock worth $37,373,000 after acquiring an additional 1,127 shares during the period. Institutional investors and hedge funds own 67.73% 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.