Apple’s (AAPL) “Outperform” Rating Reaffirmed at Oppenheimer

Apple (NASDAQ:AAPLGet Rating)‘s stock had its “outperform” rating reiterated by stock analysts at Oppenheimer in a research note issued to investors on Wednesday. They currently have a $190.00 target price on the iPhone maker’s stock. Oppenheimer’s target price indicates a potential upside of 27.77% from the company’s previous close.

AAPL has been the subject of a number of other reports. Piper Sandler dropped their price target on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Rosenblatt Securities lowered their price objective on shares of Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, May 2nd. Deutsche Bank Rese… set a $210.00 price objective on shares of Apple in a research report on Friday, April 8th. Bank of America lowered their price objective on shares of Apple from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Finally, Evercore ISI initiated coverage on shares of Apple in a research report on Friday, March 25th. They set a “buy” rating and a $210.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Buy” and a consensus price target of $187.12.

NASDAQ AAPL opened at $148.71 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53. Apple has a 1-year low of $125.94 and a 1-year high of $182.94. The company has a 50 day moving average of $157.22 and a 200-day moving average of $164.77. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.91 and a beta of 1.20.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. During the same period in the previous year, the business earned $1.40 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Apple will post 6.11 earnings per share for the current year.

Apple announced that its Board of Directors has initiated a share buyback program on Thursday, April 28th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 8,000 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $22,475,583.90. The disclosure for this sale can be found here. Insiders sold a total of 168,099 shares of company stock valued at $29,376,711 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in AAPL. Norges Bank bought a new position in shares of Apple during the 4th quarter valued at approximately $25,228,507,000. Aaron Wealth Advisors LLC boosted its holdings in Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after buying an additional 25,989,570 shares during the period. State Street Corp lifted its stake in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Capital Research Global Investors lifted its stake in Apple by 31.7% in the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after purchasing an additional 9,354,484 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. 57.98% of the stock is owned by hedge funds and other institutional investors.

About Apple (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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