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

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

AAPL has been the topic of a number of other research reports. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a research report on Tuesday, January 21st. Monness Crespi & Hardt boosted their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Maxim Group boosted their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Morgan Stanley boosted their price target on shares of Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $242.52.

Apple Trading Up 0.1 %

NASDAQ AAPL traded up $0.23 during trading hours on Thursday, reaching $245.10. The company had a trading volume of 4,637,629 shares, compared to its average volume of 52,688,746. The stock has a 50-day moving average of $240.56 and a 200 day moving average of $232.20. Apple has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $3.68 trillion, a P/E ratio of 38.89, a price-to-earnings-growth ratio of 2.43 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. As a group, research analysts anticipate that Apple will post 7.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. EFG Asset Management Americas Corp. increased its position in shares of Apple by 44.6% in the second quarter. EFG Asset Management Americas Corp. now owns 76,494 shares of the iPhone maker’s stock valued at $16,111,000 after buying an additional 23,588 shares in the last quarter. Chicago Capital LLC lifted its stake in shares of Apple by 4.9% in the 2nd quarter. Chicago Capital LLC now owns 545,774 shares of the iPhone maker’s stock valued at $114,951,000 after purchasing an additional 25,585 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. lifted its stake in shares of Apple by 1.3% in the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 91,668 shares of the iPhone maker’s stock valued at $19,307,000 after purchasing an additional 1,169 shares in the last quarter. Motiv8 Investments LLC lifted its stake in shares of Apple by 18.8% in the 2nd quarter. Motiv8 Investments LLC now owns 7,579 shares of the iPhone maker’s stock valued at $1,597,000 after purchasing an additional 1,198 shares in the last quarter. Finally, Oxbow Advisors LLC lifted its position in Apple by 0.3% during the 2nd quarter. Oxbow Advisors LLC now owns 118,929 shares of the iPhone maker’s stock worth $25,049,000 after acquiring an additional 356 shares in the last quarter. Hedge funds and other institutional investors 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.