Apple (NASDAQ:AAPL) Rating Reiterated by Needham & Company LLC

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently have a $220.00 target price on the iPhone maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 30.95% from the company’s previous close.

Several other research analysts also recently commented on AAPL. Piper Sandler lowered their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Loop Capital lowered their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Wedbush restated an “outperform” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, April 9th. Rosenblatt Securities restated a “neutral” rating and set a $189.00 price objective on shares of Apple in a research report on Tuesday, March 5th. Finally, DA Davidson began coverage on shares of Apple in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price objective on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $203.34.

Apple Stock Down 0.8 %

AAPL opened at $168.00 on Tuesday. The company has a 50 day moving average of $175.57 and a 200 day moving average of $182.21. The company has a market cap of $2.59 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.08 and a beta of 1.27. Apple has a 12 month low of $162.80 and a 12 month high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same period last year, the firm earned $1.88 EPS. Apple’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Apple will post 6.54 EPS for the current year.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock valued at $63,653,887 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AAPL. Atlantic Private Wealth LLC purchased a new stake in Apple during the first quarter valued at approximately $30,000. Wyrmwood Management LLC increased its holdings in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the fourth quarter valued at approximately $39,000. Gilfoyle & Co LLC increased its holdings in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. Finally, Summit Wealth Group LLC increased its holdings in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 6,949,659 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

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.