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

Apple (NASDAQ:AAPL) had its target price increased by Loop Capital to $300.00 in a research report issued on Monday, Stock Target Advisor reports. The firm currently has a “buy” rating on the iPhone maker’s stock. Loop Capital’s price target would indicate a potential upside of 28.22% from the company’s previous close.

A number of other research firms have also recently weighed in on AAPL. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. The Goldman Sachs Group upped their target price on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, KeyCorp restated a “hold” rating and set a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Performance

NASDAQ:AAPL opened at $233.98 on Monday. The firm’s fifty day simple moving average is $225.78 and its 200 day simple moving average is $208.38. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 36.36, a PEG ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS 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 company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the company posted $1.26 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Apple will post 6.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. Koss Olinger Consulting LLC raised its position in shares of Apple by 1.5% during the third quarter. Koss Olinger Consulting LLC now owns 18,011 shares of the iPhone maker’s stock worth $4,197,000 after purchasing an additional 262 shares during the period. Echo Wealth Management LLC increased its stake in Apple by 10.2% in the 3rd quarter. Echo Wealth Management LLC now owns 32,153 shares of the iPhone maker’s stock worth $7,380,000 after purchasing an additional 2,968 shares in the last quarter. Penn Davis Mcfarland Inc. raised its holdings in Apple by 12.4% during the 3rd quarter. Penn Davis Mcfarland Inc. now owns 185,781 shares of the iPhone maker’s stock worth $43,287,000 after buying an additional 20,461 shares during the period. Godsey & Gibb Inc. lifted its stake in Apple by 0.3% during the third quarter. Godsey & Gibb Inc. now owns 151,564 shares of the iPhone maker’s stock valued at $35,314,000 after buying an additional 485 shares in the last quarter. Finally, Baker Boyer National Bank boosted its holdings in shares of Apple by 3.2% in the third quarter. Baker Boyer National Bank now owns 21,015 shares of the iPhone maker’s stock worth $4,896,000 after buying an additional 650 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

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.