Apple (NASDAQ:AAPL) Price Target Raised to $275.00

Apple (NASDAQ:AAPL) had its target price upped by research analysts at Evercore ISI from $260.00 to $275.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the iPhone maker’s stock. Evercore ISI’s price objective points to a potential upside of 28.50% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. UBS Group raised their price target on shares of Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Citigroup boosted their target price on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays upped their price target on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Maxim Group lifted their price objective on Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.65.

Apple Stock Up 0.2 %

NASDAQ:AAPL opened at $214.00 on Tuesday. The firm’s 50 day simple moving average is $233.90 and its 200 day simple moving average is $233.71. The company has a market cap of $3.21 trillion, a PE ratio of 33.97, a P/E/G ratio of 2.44 and a beta of 1.18. Apple has a one year low of $164.08 and a one year high of $260.10. 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 (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, research analysts anticipate that Apple will post 7.28 earnings per share for the current year.

Institutional Trading of Apple

A number of hedge funds have recently bought and sold shares of AAPL. NorthCrest Asset Manangement LLC increased its position in shares of Apple by 0.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 469,767 shares of the iPhone maker’s stock valued at $117,639,000 after purchasing an additional 3,365 shares during the last quarter. Members Wealth LLC purchased a new stake in Apple during the fourth quarter worth about $2,528,000. Tableaux LLC bought a new stake in Apple in the fourth quarter worth about $7,412,000. Keystone Financial Services LLC purchased a new position in Apple in the fourth quarter valued at about $1,115,000. Finally, Silver Oak Wealth Advisors Services LLC bought a new position in shares of Apple during the 4th quarter valued at approximately $1,578,000. 67.73% of the stock is currently owned by 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.