Rosenblatt Securities Issues Positive Forecast for Apple (NASDAQ:AAPL) Stock Price

Apple (NASDAQ:AAPL) had its target price boosted by research analysts at Rosenblatt Securities from $261.00 to $262.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the iPhone maker’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 17.54% from the stock’s current price.

A number of other brokerages also recently commented on AAPL. Robert W. Baird raised their target price on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen raised their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Finally, UBS Group reissued a “hold” rating and set a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. Two 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

Apple Price Performance

Shares of Apple stock opened at $222.91 on Friday. The business’s fifty day moving average price is $227.18 and its 200 day moving average price is $212.33. Apple has a twelve month low of $164.07 and a twelve month high of $237.49. 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 stock has a market capitalization of $3.39 trillion, a P/E ratio of 33.93, a PEG ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.15. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. As a group, research analysts anticipate that Apple will post 6.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the 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 completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC grew its stake in shares of Apple by 17.9% in the 1st 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. Bull Oak Capital LLC boosted its holdings 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 buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple in the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% in the third 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. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple during the 3rd quarter valued at $110,000. 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.