Tigress Financial Issues Positive Forecast for Apple (NASDAQ:AAPL) Stock Price

Key Points

• Tigress Financial has increased its price target for Apple (NASDAQ:AAPL) from $300.00 to $305.00, indicating a potential upside of 28.07% from the current price and maintaining a "strong-buy" rating.
• Apple reported earnings of $1.57 per share for its last quarter, beating estimates and generating revenue of $94.04 billion, which is up 9.6% year-over-year.
• Institutional investors own 67.73% of Apple's stock, with several firms, like WT Wealth Management and American Trust, recently increasing their positions in the company.

Apple (NASDAQ:AAPL - Get Free Report) had its price objective upped by equities research analysts at Tigress Financial from $300.00 to $305.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the iPhone maker's stock. Tigress Financial's price objective would indicate a potential upside of 28.07% from the company's current price.

Several other equities research analysts have also commented on AAPL. UBS Group restated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Melius Research set a $290.00 price target on Apple and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, HSBC set a $220.00 price target on Apple and gave the stock a "hold" rating in a research note on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $241.93.

Apple Stock Performance

NASDAQ:AAPL opened at $238.15 on Wednesday. The stock has a market cap of $3.53 trillion, a P/E ratio of 36.14, a PEG ratio of 2.46 and a beta of 1.11. The stock has a 50 day simple moving average of $222.59 and a 200 day simple moving average of $212.17. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple has a 1-year low of $169.21 and a 1-year high of $260.10.

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

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction 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 sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Apple

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Milestones Private Investment Advisors LLC purchased a new stake in Apple during the second quarter valued at about $2,921,000. WT Wealth Management raised its position in Apple by 8.7% during the second quarter. WT Wealth Management now owns 44,563 shares of the iPhone maker's stock valued at $9,143,000 after purchasing an additional 3,556 shares in the last quarter. NWF Advisory Services Inc. raised its position in Apple by 3.8% during the second quarter. NWF Advisory Services Inc. now owns 135,872 shares of the iPhone maker's stock valued at $27,877,000 after purchasing an additional 4,922 shares in the last quarter. Prospera Capital Management LLC raised its position in Apple by 5.2% during the second quarter. Prospera Capital Management LLC now owns 6,656 shares of the iPhone maker's stock valued at $1,366,000 after purchasing an additional 331 shares in the last quarter. Finally, American Trust raised its position in Apple by 19.7% during the second quarter. American Trust now owns 71,199 shares of the iPhone maker's stock valued at $14,608,000 after purchasing an additional 11,698 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.