Apple (NASDAQ:AAPL) Price Target Raised to $260.00

Apple (NASDAQ:AAPL) had its target price increased by Evercore ISI to $260.00 in a report issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Evercore ISI’s target price indicates a potential upside of 6.08% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. TD Cowen reiterated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Maxim Group boosted their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their price target on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.52.

Apple Stock Up 0.1 %

Shares of AAPL stock traded up $0.23 on Thursday, hitting $245.10. The stock had a trading volume of 4,637,629 shares, compared to its average volume of 52,688,746. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average price of $240.56 and a 200 day moving average price of $232.20. The company has a market cap of $3.68 trillion, a PE ratio of 38.89, a P/E/G ratio of 2.43 and a beta of 1.20. Apple has a one year low of $164.07 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Research analysts anticipate that Apple will post 7.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apple

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. O Connor Financial Group LLC boosted its position in shares of Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after acquiring an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after acquiring an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC boosted its position in shares of Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the last quarter. Advanced Portfolio Management LLC boosted its position in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the last quarter. Finally, Menard Financial Group LLC boosted its position in shares of Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.