Apple (NASDAQ:AAPL) Rating Reiterated by Wedbush

Apple (NASDAQ:AAPLGet Free Report)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research note issued to investors on Monday, Benzinga reports. They currently have a $250.00 price target on the iPhone maker’s stock. Wedbush’s price objective would indicate a potential upside of 32.70% from the stock’s current price.

A number of other brokerages have also recently weighed in on AAPL. Piper Sandler Companies cut Apple to a “neutral” rating and dropped their price objective for the company from $220.00 to $205.00 in a research note on Thursday, January 4th. Barclays lowered their target price on Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a research note on Friday, February 2nd. JPMorgan Chase & Co. lowered their target price on Apple from $225.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Oppenheimer reissued an “outperform” rating and set a $200.00 target price on shares of Apple in a research note on Friday, February 2nd. Finally, Jefferies Financial Group lowered their price target on shares of Apple from $220.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.72.

Get Our Latest Stock Analysis on AAPL

Apple Trading Down 0.2 %

AAPL stock opened at $188.40 on Monday. The company’s 50-day simple moving average is $190.51 and its 200-day simple moving average is $184.04. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple has a 52-week low of $143.90 and a 52-week high of $199.62. The firm has a market cap of $2.91 trillion, a P/E ratio of 29.40, a PEG ratio of 2.27 and a beta of 1.31.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Apple will post 6.56 EPS for the current fiscal year.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 5,513 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the transaction, the insider now directly owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the sale, the insider now owns 29,174 shares in the company, valued at approximately $5,601,408. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of Apple stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $188.79, for a total value of $23,305,747.92. Following the sale, the senior vice president now owns 293,266 shares of the company’s stock, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atlantic Private Wealth LLC purchased a new stake in shares of Apple during the 1st quarter valued at $30,000. Wyrmwood Management LLC lifted its stake in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC grew its stake in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. Summit Wealth Group LLC grew its stake in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 6,949,659 shares in the last quarter. Finally, HBC Financial Services PLLC lifted its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. 58.51% of the stock is owned by hedge funds and other institutional investors.

Apple Company Profile

(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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Analyst Recommendations for Apple (NASDAQ:AAPL)

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