Apple (NASDAQ:AAPL) Earns Buy Rating from Oppenheimer

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Oppenheimer in a research report issued on Tuesday, Stock Target Advisor reports. They presently have a $250.00 price objective on the iPhone maker’s stock. Oppenheimer’s target price suggests a potential upside of 7.30% from the company’s current price.

A number of other equities research analysts have also recently weighed in on AAPL. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Tuesday, September 10th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. Cfra lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Finally, TD Cowen boosted their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.76.

Apple Stock Performance

Shares of AAPL opened at $233.00 on Tuesday. Apple has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a market cap of $3.57 trillion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm has a fifty day moving average of $222.37 and a 200-day moving average of $202.80.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period 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 anticipate that Apple will post 6.7 earnings per share for the current year.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AAPL. Christopher J. Hasenberg Inc bought a new stake in shares of Apple during the first quarter worth $35,000. Fidelis Capital Partners LLC grew its holdings in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple during the fourth quarter worth $39,000. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the second quarter worth $42,000. Finally, University of Texas Texas AM Investment Managment Co. grew its holdings in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the last quarter. 60.41% 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.