Apple (NASDAQ:AAPL) Stock Rating Reaffirmed by Oppenheimer

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

A number of other research firms also recently commented on AAPL. Evercore ISI restated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Barclays lowered their price objective on shares of Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Maxim Group reaffirmed a “hold” rating and issued a $203.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Citigroup reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Finally, Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Apple Trading Up 0.3 %

Apple stock opened at $226.78 on Tuesday. The firm’s 50-day moving average is $222.56 and its 200-day moving average 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 has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a market cap of $3.48 trillion, a P/E ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24.

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. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts expect 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 the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the last quarter. Norges Bank bought a new stake in Apple in the fourth quarter valued at approximately $33,912,466,000. Wellington Management Group LLP boosted its holdings in Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after acquiring an additional 1,067,587 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares during the last quarter. Institutional investors and hedge funds own 60.41% 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.