Apple (NASDAQ:AAPL) Rating Reiterated by Wedbush

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by equities researchers at Wedbush in a research note issued to investors on Thursday, TipRanks reports. They presently have a $325.00 target price on the iPhone maker’s stock. Wedbush’s target price indicates a potential upside of 18.12% from the stock’s current price.

Other analysts have also issued research reports about the company. Bank of America restated a “buy” rating and issued a $250.00 price objective (up previously from $240.00) on shares of Apple in a report on Wednesday, September 11th. Rosenblatt Securities restated a “sell” rating and issued a $150.00 price objective on shares of Apple in a report on Monday, December 9th. Citigroup upped their price objective on Apple from $250.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, December 5th. China Renaissance Securities started coverage on Apple in a report on Monday, December 9th. They issued a “buy” rating and a $342.00 price objective for the company. Finally, Nomura restated a “hold” rating and issued a $225.00 price objective on shares of Apple in a report on Tuesday. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Apple presently has a consensus rating of “Hold” and an average price target of $251.61.

Shares of AAPL stock opened at $275.15 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.50 and a current ratio of 1.54. Apple has a 1 year low of $142.00 and a 1 year high of $275.30. The stock has a fifty day moving average of $261.07 and a two-hundred day moving average of $221.13. The firm has a market capitalization of $1,222.56 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.96 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.19. Apple had a return on equity of 53.82% and a net margin of 21.24%. The company had revenue of $64.04 billion during the quarter, compared to analyst estimates of $62.86 billion. During the same quarter in the previous year, the firm posted $2.91 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts predict that Apple will post 13.19 earnings per share for the current fiscal year.

In related news, COO Jeffrey E. Williams sold 67,554 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $219.04, for a total transaction of $14,797,028.16. Following the transaction, the chief operating officer now directly owns 237,517 shares of the company’s stock, valued at $52,025,723.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 61,659 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $228.38, for a total value of $14,081,682.42. Following the transaction, the chief financial officer now directly owns 85,507 shares in the company, valued at $19,528,088.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,998 shares of company stock valued at $42,351,593. 0.05% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of AAPL. Eagle Capital Management LLC raised its position in Apple by 0.5% during the second quarter. Eagle Capital Management LLC now owns 22,953 shares of the iPhone maker’s stock valued at $4,543,000 after buying an additional 104 shares during the period. Mitchell Capital Management Co. raised its position in Apple by 7.8% during the second quarter. Mitchell Capital Management Co. now owns 52,595 shares of the iPhone maker’s stock valued at $10,410,000 after buying an additional 3,822 shares during the period. Private Advisory Group LLC raised its position in Apple by 84.9% during the second quarter. Private Advisory Group LLC now owns 39,894 shares of the iPhone maker’s stock valued at $7,896,000 after buying an additional 18,321 shares during the period. HCR Wealth Advisors raised its position in Apple by 12.9% during the second quarter. HCR Wealth Advisors now owns 238,851 shares of the iPhone maker’s stock valued at $47,274,000 after buying an additional 27,261 shares during the period. Finally, Droms Strauss Advisors Inc. MO ADV increased its position in Apple by 11.2% in the 2nd quarter. Droms Strauss Advisors Inc. MO ADV now owns 5,688 shares of the iPhone maker’s stock worth $1,127,000 after purchasing an additional 571 shares during the last quarter. 59.19% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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