Apple (NASDAQ:AAPL – Get Free Report) had its price objective upped by investment analysts at Citigroup from $255.00 to $275.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Citigroup’s target price points to a potential upside of 16.53% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday. UBS Group reiterated a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Friday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Apple in a research report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.
Read Our Latest Report on AAPL
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. As a group, analysts anticipate that Apple will post 7.34 earnings per share for the current fiscal year.
Insider Activity at Apple
In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Drystone LLC purchased a new position in Apple in the 4th quarter worth $25,000. Bull Oak Capital LLC increased its holdings in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter valued at about $42,000. Life Planning Partners Inc purchased a new stake in Apple during the 4th quarter valued at about $47,000. Finally, Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
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.
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