Apple’s (AAPL) “Outperform” Rating Reiterated at Evercore ISI

Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating reiterated by analysts at Evercore ISI in a research note issued on Monday, Benzinga reports. They presently have a $250.00 target price on the iPhone maker’s stock. Evercore ISI’s target price would indicate a potential upside of 15.70% from the stock’s current price.

A number of other research firms have also recently issued reports on AAPL. Tigress Financial boosted their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Maxim Group restated a “hold” rating and issued a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. Cfra increased their price target on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group lifted their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Stock Performance

Shares of NASDAQ:AAPL traded down $6.43 on Monday, hitting $216.07. The company’s stock had a trading volume of 30,598,506 shares, compared to its average volume of 60,743,109. The stock’s 50-day moving average is $223.14 and its two-hundred day moving average is $198.75. The company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. 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 12 month low of $164.07 and a 12 month high of $237.23.

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

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Large investors have recently modified their holdings of the business. Christopher J. Hasenberg Inc acquired a new position in Apple in the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC boosted its position in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple during the 4th quarter valued at $39,000. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter valued at about $42,000. Finally, University of Texas Texas AM Investment Managment Co. increased its position in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

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.