Apple (NASDAQ:AAPL) Stock Price Expected to Rise, Evercore ISI Analyst Says

Apple (NASDAQ:AAPL) had its price objective hoisted by Evercore ISI from $260.00 to $275.00 in a research note issued on Tuesday, Marketbeat.com reports. The firm presently has an “outperform” rating on the iPhone maker’s stock. Evercore ISI’s price target suggests a potential upside of 27.76% from the stock’s previous close.

Several other brokerages also recently issued reports on AAPL. Rosenblatt Securities restated a “buy” rating and set a $262.00 price objective on shares of Apple in a research report on Monday, January 27th. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a report on Tuesday, January 21st. KeyCorp reiterated an “underweight” rating and issued a $200.00 price target on shares of Apple in a report on Friday, January 31st. Wells Fargo & Company lifted their price objective on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $215.24 on Tuesday. The business’s 50 day simple moving average is $232.76 and its 200-day simple moving average is $233.47. The firm has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities analysts forecast that Apple will post 7.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apple

A number of hedge funds and other institutional investors have recently made changes to their positions in AAPL. Norges Bank purchased a new stake in shares of Apple during the 4th quarter worth about $46,868,648,000. International Assets Investment Management LLC raised its stake in shares of Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. State Street Corp raised its stake in shares of Apple by 10.6% during the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock valued at $5,272,653,000 after acquiring an additional 20,966,232 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.