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

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

A number of other equities analysts also recently commented on the company. Oppenheimer restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price target (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Finally, Bank of America restated a “buy” rating and set a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. One investment 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Down 0.4 %

NASDAQ:AAPL opened at $233.98 on Monday. Apple has a 1-year low of $164.07 and a 1-year 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. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The business’s fifty day moving average price is $225.78 and its 200 day moving average price is $208.38.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $84.43 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple will post 6.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter worth about $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Cordant Inc. raised its stake in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the last quarter. Access Investment Management LLC acquired a new position in Apple in the first quarter valued at approximately $140,000. Finally, Hoese & Co LLP boosted its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

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.