Apple (NASDAQ:AAPL) Stock Rating Reaffirmed by Oppenheimer

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reiterated by equities research analysts at Oppenheimer in a report released on Tuesday, Stock Target Advisor reports. They presently have a $250.00 target price on the iPhone maker’s stock. Oppenheimer’s price objective suggests a potential upside of 10.24% from the company’s previous close.

A number of other brokerages have also recently issued reports on AAPL. UBS Group increased their target price on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. 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. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Thursday, September 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $238.76.

Apple Price Performance

Apple stock opened at $226.78 on Tuesday. The stock has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24. Apple has a 52-week low of $164.07 and a 52-week high of $237.23. The stock’s 50 day moving average price is $222.56 and its two-hundred day moving average price is $203.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 EPS. On average, equities analysts predict that Apple will post 6.7 earnings per share for the current year.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several hedge funds have recently made changes to their positions in the business. Lowe Wealth Advisors LLC boosted its position in shares of Apple by 4.9% during the third quarter. Lowe Wealth Advisors LLC now owns 3,643 shares of the iPhone maker’s stock valued at $849,000 after purchasing an additional 169 shares in the last quarter. Boltwood Capital Management boosted its position in shares of Apple by 3.9% during the third quarter. Boltwood Capital Management now owns 37,027 shares of the iPhone maker’s stock valued at $8,627,000 after purchasing an additional 1,381 shares in the last quarter. Praetorian Wealth Management Inc. boosted its position in shares of Apple by 3.2% during the third quarter. Praetorian Wealth Management Inc. now owns 18,947 shares of the iPhone maker’s stock valued at $4,415,000 after purchasing an additional 594 shares in the last quarter. Abacus Planning Group Inc. boosted its position in shares of Apple by 4.6% during the third quarter. Abacus Planning Group Inc. now owns 62,490 shares of the iPhone maker’s stock valued at $14,560,000 after purchasing an additional 2,769 shares in the last quarter. Finally, Waller Financial Planning Group Inc. boosted its position in shares of Apple by 15.5% during the third quarter. Waller Financial Planning Group Inc. now owns 17,534 shares of the iPhone maker’s stock valued at $4,085,000 after purchasing an additional 2,356 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

About Apple

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.