Apple (NASDAQ:AAPL) Given New $245.00 Price Target at Monness Crespi & Hardt

Apple (NASDAQ:AAPL - Get Free Report) had its target price raised by Monness Crespi & Hardt to $245.00 in a research report issued on Wednesday, Stock Target Advisor reports. The firm presently has a "buy" rating on the iPhone maker's stock. Monness Crespi & Hardt's price target indicates a potential upside of 10.46% from the stock's previous close.

Other research analysts have also issued reports about the stock. Evercore ISI restated a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Wedbush upped their price objective on shares of Apple from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, December 26th. Moffett Nathanson reissued a "sell" rating and issued a $188.00 target price (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Citigroup upped their price target on shares of Apple to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, New Street Research reiterated a "neutral" rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $237.99.

Apple Stock Performance

NASDAQ AAPL traded down $0.85 on Wednesday, hitting $221.80. 15,394,336 shares of the company's stock traded hands, compared to its average volume of 50,945,152. The firm has a market capitalization of $3.34 trillion, a PE ratio of 36.48, a P/E/G ratio of 2.25 and a beta of 1.20. The firm's 50-day moving average price is $241.09 and its two-hundred day moving average price is $230.82. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple has a 1-year low of $164.07 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. As a group, analysts expect that Apple will post 7.43 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % 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

Several hedge funds have recently added to or reduced their stakes in AAPL. High Net Worth Advisory Group LLC grew its stake in shares of Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock worth $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Granite Investment Partners LLC increased its holdings in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock worth $60,958,000 after purchasing an additional 7,606 shares during the period. Truist Financial Corp boosted its stake in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock valued at $1,473,224,000 after buying an additional 126,210 shares during the period. Sterling Investment Counsel LLC grew its position in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock worth $16,269,000 after buying an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners grew its holdings in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock worth $59,122,000 after acquiring an additional 28,799 shares in the last quarter. 67.73% of the stock is currently 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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