Apple’s (AAPL) Buy Rating Reiterated at Rosenblatt Securities

Apple (NASDAQ:AAPLGet Free Report)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a research report issued on Monday,Benzinga reports. They presently have a $262.00 target price on the iPhone maker’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 9.96% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Sanford C. Bernstein lifted their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. Moffett Nathanson restated a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and set a $325.00 price target on shares of Apple in a report on Thursday, January 23rd. Finally, Citigroup increased their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.05.

Read Our Latest Analysis on AAPL

Apple Stock Up 3.7 %

AAPL stock opened at $238.26 on Monday. The company has a market cap of $3.58 trillion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple has a 52 week low of $164.07 and a 52 week high of $260.10. The business has a 50-day simple moving average of $240.97 and a 200 day simple moving average of $230.70.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. Sell-side analysts anticipate that Apple will post 7.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apple news, 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 completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several large investors have recently bought and sold shares of the stock. Ceredex Value Advisors LLC bought a new stake in Apple in the second quarter worth about $31,527,000. RPS Advisory Solutions LLC purchased a new stake in shares of Apple during the 2nd quarter worth approximately $18,500,000. Baillie Gifford & Co. raised its holdings in shares of Apple by 13.7% in the 2nd quarter. Baillie Gifford & Co. now owns 731,528 shares of the iPhone maker’s stock worth $154,074,000 after purchasing an additional 87,866 shares during the period. Institute for Wealth Management LLC. raised its holdings in shares of Apple by 2.8% in the 2nd quarter. Institute for Wealth Management LLC. now owns 128,382 shares of the iPhone maker’s stock worth $27,040,000 after purchasing an additional 3,476 shares during the period. Finally, Sterling Investment Counsel LLC lifted its stake in Apple by 17.9% in the second quarter. Sterling Investment Counsel LLC now owns 67,259 shares of the iPhone maker’s stock valued at $14,166,000 after purchasing an additional 10,210 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

About Apple

(Get Free Report)

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.

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