Apple (NASDAQ:AAPL) Price Target Raised to $325.00

Apple (NASDAQ:AAPL) had its target price raised by research analysts at Wedbush from $300.00 to $325.00 in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the iPhone maker’s stock. Wedbush’s price objective suggests a potential upside of 25.87% from the company’s current price.

Several other equities analysts also recently commented on the stock. Maxim Group increased their target price on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Finally, Loop Capital decreased their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.47.

Apple Stock Up 1.1 %

Shares of Apple stock opened at $258.20 on Thursday. Apple has a 1 year low of $164.07 and a 1 year high of $258.21. The company has a market cap of $3.90 trillion, a P/E ratio of 42.47, a P/E/G ratio of 2.41 and a beta of 1.23. 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 has a 50-day moving average price of $236.46 and a 200 day moving average price of $226.99.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. As a group, analysts expect that Apple will post 7.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 508,170 shares of company stock worth $117,004,745. 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 bought and sold shares of the business. Bull Oak Capital LLC raised its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the second quarter valued at about $42,000. SPX Gestao de Recursos Ltda bought a new position in Apple in the third quarter worth about $71,000. Christopher J. Hasenberg Inc lifted its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Apple during the 3rd quarter valued at approximately $77,000. Institutional investors 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.