Apple (NASDAQ:AAPL) Given New $300.00 Price Target at Tigress Financial

Apple (NASDAQ:AAPL) had its target price upped by equities research analysts at Tigress Financial from $295.00 to $300.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the iPhone maker’s stock. Tigress Financial’s price target indicates a potential upside of 33.99% from the stock’s previous close.

A number of other brokerages have also recently issued reports on AAPL. JPMorgan Chase & Co. upped their price target on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and set a $262.00 price target on shares of Apple in a research report on Monday, January 27th. Sanford C. Bernstein boosted their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.70.

Apple Stock Up 0.3 %

Shares of Apple stock opened at $223.89 on Thursday. Apple has a 1 year low of $164.08 and a 1 year high of $260.10. The firm has a market cap of $3.36 trillion, a price-to-earnings ratio of 35.54, a PEG ratio of 2.44 and a beta of 1.18. The company has a 50-day moving average of $230.55 and a 200 day moving average of $233.36. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, sell-side analysts anticipate that Apple will post 7.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AAPL. AMF Tjanstepension AB grew its holdings in shares of Apple by 21.1% in the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock worth $787,631,000 after purchasing an additional 588,427 shares during the last quarter. Fiduciary Alliance LLC boosted its position in Apple by 20.6% in the 3rd quarter. Fiduciary Alliance LLC now owns 193,392 shares of the iPhone maker’s stock valued at $45,060,000 after buying an additional 33,056 shares during the period. Grove Bank & Trust grew its stake in Apple by 6.3% in the 3rd quarter. Grove Bank & Trust now owns 173,323 shares of the iPhone maker’s stock worth $40,384,000 after acquiring an additional 10,280 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Apple by 4.0% during the third quarter. Sivia Capital Partners LLC now owns 40,998 shares of the iPhone maker’s stock worth $9,552,000 after acquiring an additional 1,582 shares during the period. Finally, Wesbanco Bank Inc. raised its stake in shares of Apple by 0.4% during the third quarter. Wesbanco Bank Inc. now owns 877,420 shares of the iPhone maker’s stock valued at $204,439,000 after acquiring an additional 3,909 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.