Rosenblatt Securities Increases Apple (NASDAQ:AAPL) Price Target to $300.00

Apple (NASDAQ:AAPL) had its price objective raised by Rosenblatt Securities from $276.00 to $300.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the iPhone maker’s stock. Rosenblatt Securities’ price target suggests a potential downside of 10.03% from the company’s previous close.

Other research analysts also recently issued reports about the company. TD Cowen lifted their target price on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Bank of America restated a “buy” rating and issued a $380.00 price target on shares of Apple in a research note on Thursday, June 18th. KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a research report on Monday, June 22nd. Monness Crespi & Hardt lifted their price objective on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Apple in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $328.60.

Apple Stock Down 1.4%

Shares of AAPL stock opened at $333.43 on Friday. Apple has a 52-week low of $201.50 and a 52-week high of $344.57. The stock has a market cap of $4.90 trillion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.92 and a beta of 1.10. The firm’s 50-day moving average is $309.51 and its 200-day moving average is $281.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $1.57 earnings per share. Sell-side analysts predict that Apple will post 8.76 EPS for the current year.

Insider Transactions at Apple

In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apple

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Apple in the fourth quarter valued at approximately $52,266,468,000. Nuveen LLC acquired a new position in Apple in the 1st quarter valued at $17,472,482,000. Cardano Risk Management B.V. raised its holdings in Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after acquiring an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in shares of Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after acquiring an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record quarterly revenue of $109.4 billion, up 16.4% year over year, while diluted EPS of $2.02 exceeded Wall Street’s $1.89 estimate. iPhone revenue rose 22% to $54.3 billion and Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Analysts at Baird, Goldman Sachs and Citi reiterated Buy ratings, citing premium hardware pricing, stabilizing high-margin Services growth, and longer-term opportunities from Apple’s artificial-intelligence strategy. Price targets ranged from $330 to $365. Goldman Sachs reiterates Buy rating
• Positive Sentiment: Apple’s new leasing program, supported by Klarna, could encourage more frequent upgrades and increase sales of higher-priced devices. The company also highlighted an all-time-high installed base and potential AI-related growth, including a possible paid tier for advanced Siri features. Apple leasing program

About Apple

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.