Apple (NASDAQ:AAPL) Price Target Raised to $330.00

Apple (NASDAQ:AAPL - Get Free Report) had its price objective upped by research analysts at CLSA from $265.00 to $330.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the iPhone maker's stock. CLSA's price objective would indicate a potential upside of 17.56% from the stock's previous close.

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AAPL has been the subject of several other reports. Rosenblatt Securities boosted their target price on shares of Apple from $241.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, October 31st. Loop Capital reiterated a "buy" rating and set a $325.00 price target (up previously from $315.00) on shares of Apple in a research note on Tuesday. Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. Morgan Stanley raised their target price on Apple from $298.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, October 31st. Finally, Evercore ISI lifted their target price on Apple from $290.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $280.09.

Read Our Latest Report on AAPL

Apple Price Performance

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Shares of AAPL opened at $280.70 on Friday. Apple has a 12-month low of $169.21 and a 12-month high of $288.62. The business's fifty day moving average is $265.56 and its 200 day moving average is $233.58. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The stock has a market cap of $4.15 trillion, a P/E ratio of 37.58, a P/E/G ratio of 2.65 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the previous year, the business posted $1.64 EPS. Apple's quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Apple will post 7.28 earnings per share for the current fiscal year.

Insider Activity at Apple

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In other Apple news, CFO Kevan Parekh sold 4,199 shares of the business's stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O'brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 228,052 shares of company stock valued at $58,604,588 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apple

Institutional investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its stake in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Norges Bank purchased a new stake in Apple during the second quarter valued at about $38,942,255,000. Nuveen LLC purchased a new stake in Apple during the first quarter valued at about $17,472,482,000. PKS Advisory Services LLC boosted its position in Apple by 98,917.0% during the second quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker's stock worth $12,106,000 after purchasing an additional 57,898,088 shares during the period. Finally, Laurel Wealth Advisors LLC increased its stake in shares of Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after purchasing an additional 26,937,401 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.

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