Apple (NASDAQ:AAPL) Price Target Raised to $300.00

Apple (NASDAQ:AAPL - Get Free Report) had its target price raised by equities researchers at Loop Capital to $300.00 in a research note issued on Monday, Stock Target Advisor reports. The brokerage presently has a "buy" rating on the iPhone maker's stock. Loop Capital's price target would indicate a potential upside of 26.86% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Apple from a "buy" rating to a "hold" rating and raised their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Bank of America reiterated a "buy" rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Raymond James upped their target price on Apple from $200.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Maxim Group reiterated a "hold" rating and set a $203.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $260.00 price objective on shares of Apple in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $239.27.

Apple Stock Performance

Shares of AAPL traded up $1.48 during mid-day trading on Monday, reaching $236.48. 36,222,368 shares of the company's stock traded hands, compared to its average volume of 60,015,254. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The business's 50-day moving average price is $225.78 and its 200-day moving average price is $208.38. The stock has a market capitalization of $3.63 trillion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the business earned $1.26 EPS. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts predict that Apple will post 6.65 earnings per share for the current year.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of the company's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 517,924 shares of company stock valued at $114,786,399. Insiders own 0.06% of the company's stock.

Institutional Trading of Apple

Several large investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC raised its position in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker's stock valued at $35,000 after purchasing an additional 31,278 shares during the period. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc raised its holdings in Apple by 88.9% in 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 period. Access Investment Management LLC bought a new stake in Apple during the first quarter valued at about $140,000. Finally, Cordant Inc. grew its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock valued at $158,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 60.41% 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.