Apple (NASDAQ:AAPL) Price Target Raised to $315.00 at Monness Crespi & Hardt

Apple (NASDAQ:AAPLGet Free Report) had its price objective raised by Monness Crespi & Hardt from $300.00 to $315.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the iPhone maker’s stock. Monness Crespi & Hardt’s target price points to a potential upside of 21.96% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on AAPL. Wedbush restated an “outperform” rating on shares of Apple in a research report on Wednesday. Wells Fargo & Company set a $300.00 price objective on Apple and gave the company an “overweight” rating in a report on Friday, October 31st. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Tuesday, January 6th. Stephens set a $315.00 price objective on shares of Apple in a report on Monday. Finally, Wall Street Zen cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

View Our Latest Analysis on Apple

Apple Trading Up 0.7%

Shares of Apple stock opened at $258.28 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. Apple has a 1 year low of $169.21 and a 1 year high of $288.62. The firm has a market cap of $3.80 trillion, a PE ratio of 34.58, a PEG ratio of 2.39 and a beta of 1.09. The company has a 50 day simple moving average of $268.62 and a two-hundred day simple moving average of $251.07.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings results on Thursday, January 29th. The iPhone maker reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.19. Apple had a net margin of 26.92% and a return on equity of 164.05%. The firm had revenue of $143.76 billion for the quarter, compared to analyst estimates of $138.25 billion. Analysts expect that Apple will post 7.28 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the transaction, the insider owned 15,098 shares in the company, valued at $4,095,030.54. The trade was a 19.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Apple

Hedge funds have recently made changes to their positions in the business. Torren Management LLC bought a new stake in Apple in the fourth quarter valued at $1,178,000. Rogco LP raised its stake in Apple by 10.1% in the fourth quarter. Rogco LP now owns 22,006 shares of the iPhone maker’s stock worth $5,983,000 after buying an additional 2,026 shares in the last quarter. Ares Financial Consulting LLC purchased a new stake in Apple in the fourth quarter worth about $1,788,000. M&T Bank Corp boosted its position in Apple by 2.9% during the 4th quarter. M&T Bank Corp now owns 4,780,670 shares of the iPhone maker’s stock valued at $1,299,673,000 after acquiring an additional 133,959 shares in the last quarter. Finally, Eagle Wealth Advisors LLC purchased a new position in shares of Apple during the 4th quarter worth approximately $11,078,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

About Apple

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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.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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