Oppenheimer reissued their outperform rating on shares of Apple (NASDAQ:AAPL) in a report issued on Monday, AnalystRatings.com reports. The firm currently has a $125.00 price objective on the iPhone maker’s stock, up from their previous price objective of $105.00. Oppenheimer also issued estimates for Apple’s Q4 2020 earnings at $0.80 EPS, FY2020 earnings at $3.34 EPS, Q1 2021 earnings at $1.39 EPS, Q2 2021 earnings at $0.87 EPS, Q3 2021 earnings at $0.78 EPS, Q4 2021 earnings at $0.96 EPS and FY2021 earnings at $4.00 EPS.
A number of other research analysts have also issued reports on the stock. Needham & Company LLC increased their target price on shares of Apple from $87.50 to $112.50 and gave the stock a buy rating in a research report on Wednesday, July 15th. Loop Capital increased their target price on shares of Apple from $82.50 to $94.00 and gave the stock a hold rating in a research report on Friday, July 31st. Wolfe Research started coverage on shares of Apple in a research report on Friday, July 24th. They set an underperform rating and a $78.75 target price on the stock. Royal Bank of Canada increased their target price on shares of Apple from $97.50 to $111.25 and gave the stock an outperform rating in a research report on Friday, July 31st. Finally, Raymond James increased their target price on shares of Apple from $100.00 to $110.00 and gave the stock an outperform rating in a research report on Friday, July 31st. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $104.95.
Shares of AAPL opened at $112.13 on Monday. Apple has a 52 week low of $53.15 and a 52 week high of $137.98. The firm has a market cap of $1,944.04 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 3.34 and a beta of 1.28. The firm’s 50-day simple moving average is $115.92 and its 200 day simple moving average is $87.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.43 and a current ratio of 1.47.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.13. Apple had a net margin of 21.33% and a return on equity of 70.66%. The business had revenue of $59.69 billion for the quarter, compared to analyst estimates of $51.94 billion. As a group, equities analysts forecast that Apple will post 3.24 earnings per share for the current year.
In related news, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $496.91, for a total transaction of $131,760,655.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Keeler Thomas Management LLC lifted its position in shares of Apple by 6.3% during the second quarter. Keeler Thomas Management LLC now owns 30,863 shares of the iPhone maker’s stock valued at $11,258,000 after purchasing an additional 1,833 shares in the last quarter. McGowan Group Asset Management Inc. raised its position in Apple by 2.7% in the first quarter. McGowan Group Asset Management Inc. now owns 5,371 shares of the iPhone maker’s stock worth $1,366,000 after acquiring an additional 140 shares during the period. Wexford Capital LP bought a new stake in Apple in the first quarter worth about $621,000. Corient Capital Partners LLC raised its position in Apple by 12.0% in the first quarter. Corient Capital Partners LLC now owns 67,463 shares of the iPhone maker’s stock worth $17,155,000 after acquiring an additional 7,217 shares during the period. Finally, Bill & Melinda Gates Foundation Trust bought a new stake in Apple in the first quarter worth about $127,410,000. 59.65% of the stock is currently owned by institutional investors.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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