Apple (NASDAQ:AAPL) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Key Points

• Rosenblatt Securities has increased its price target for Apple (NASDAQ:AAPL) from $223.00 to $241.00, indicating a potential upside of 2.84% from the current stock price.
• Analysts have mixed ratings on Apple, with two having a Strong Buy, fifteen giving a Buy, and thirteen rating it Hold, while the overall consensus rating is Moderate Buy.
• In its latest quarterly earnings, Apple reported $1.57 earnings per share, exceeding analysts' expectations and reflecting a significant year-over-year revenue increase of 9.6%.

Apple (NASDAQ:AAPL - Get Free Report) had its price objective upped by analysts at Rosenblatt Securities from $223.00 to $241.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the iPhone maker's stock. Rosenblatt Securities' price target points to a potential upside of 2.84% from the stock's current price.

Several other analysts also recently issued reports on AAPL. Loop Capital reduced their price target on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. Wedbush reiterated an "outperform" rating and set a $270.00 price target on shares of Apple in a research report on Tuesday. Bank of America upped their price objective on shares of Apple from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. UBS Group restated a "neutral" rating on shares of Apple in a research report on Monday. Finally, HSBC set a $220.00 target price on Apple and gave the stock a "hold" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $240.17.

Apple Trading Down 1.5%

AAPL opened at $234.35 on Wednesday. The company's 50 day moving average is $220.46 and its 200-day moving average is $212.50. Apple has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.48 trillion, a P/E ratio of 35.56, a PEG ratio of 2.48 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the company posted $1.40 EPS. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts predict that Apple will post 7.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Institutional Trading of Apple

A number of large investors have recently added to or reduced their stakes in the company. Advanced Portfolio Management LLC increased its stake in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares during the last quarter. Baker Boyer National Bank increased its stake in Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker's stock worth $3,695,000 after acquiring an additional 47 shares during the last quarter. Beddow Capital Management Inc. increased its stake in Apple by 1.8% in the 2nd quarter. Beddow Capital Management Inc. now owns 2,597 shares of the iPhone maker's stock worth $533,000 after acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC increased its stake in Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after acquiring an additional 49 shares during the last quarter. Finally, Red Tortoise LLC increased its stake in Apple by 0.9% in the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker's stock worth $1,173,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 67.73% 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.

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