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

Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating reiterated by analysts at Evercore ISI in a research note issued on Monday, Benzinga reports. They currently have a $250.00 target price on the iPhone maker’s stock. Evercore ISI’s price objective indicates a potential upside of 15.70% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup restated a “buy” rating and issued a $255.00 price objective on shares of Apple in a report on Tuesday, August 27th. Oppenheimer reaffirmed an “outperform” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, September 10th. Raymond James lifted 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. Rosenblatt Securities restated a “buy” rating and set a $261.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and increased their target price for the company from $170.00 to $300.00 in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.17.

Apple Trading Down 2.9 %

Shares of Apple stock traded down $6.43 on Monday, reaching $216.07. The company had a trading volume of 30,598,506 shares, compared to its average volume of 60,743,109. The firm has a market cap of $3.31 trillion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 2.62 and a beta of 1.24. Apple has a 1 year low of $164.07 and a 1 year high of $237.23. The firm’s 50-day moving average price is $223.14 and its two-hundred day moving average price is $198.75. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. As a group, research analysts predict that Apple will post 6.7 earnings per share for the current fiscal year.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several institutional investors and hedge funds have recently modified their holdings of the business. Verus Financial Partners Inc. lifted its position in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory lifted its position in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the period. Core Wealth Management Inc. increased its stake in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the period. Lowery Thomas LLC boosted its holdings in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its holdings in Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares during the period. Hedge funds and other 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.