Apple (NASDAQ:AAPL) Rating Reiterated by Oppenheimer

Oppenheimer reissued their buy rating on shares of Apple (NASDAQ:AAPL) in a research report report published on Tuesday morning, Stock Target Advisor reports. Oppenheimer currently has a $250.00 price objective on the iPhone maker’s stock.

Several other analysts also recently weighed in on the company. New Street Research reiterated a neutral rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Needham & Company LLC reiterated a buy rating and set a $260.00 price objective on shares of Apple in a research note on Thursday, September 19th. Tigress Financial upped their target price on Apple from $245.00 to $295.00 and gave the stock a strong-buy rating in a research note on Wednesday, August 28th. Bank of America reiterated a buy rating and set a $256.00 price target on shares of Apple in a research report on Thursday, September 5th. Finally, DA Davidson upgraded Apple from a neutral rating to a buy rating and upped their price objective for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of Moderate Buy and a consensus target price of $238.76.

Apple Stock Performance

Shares of AAPL stock opened at $226.80 on Tuesday. The business’s fifty day simple moving average is $222.90 and its 200-day simple moving average is $203.86. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a market cap of $3.48 trillion, a PE ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.26 earnings per share. Analysts expect that Apple will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of the 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,619 shares of company stock worth $101,352,630 in the last quarter. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Regency Capital Management Inc. DE increased its stake in Apple by 2.5% during the 3rd quarter. Regency Capital Management Inc. DE now owns 28,216 shares of the iPhone maker’s stock worth $6,574,000 after buying an additional 682 shares during the period. HBW Advisory Services LLC raised its stake in shares of Apple by 5.8% in the 3rd quarter. HBW Advisory Services LLC now owns 34,374 shares of the iPhone maker’s stock valued at $8,009,000 after purchasing an additional 1,876 shares in the last quarter. Chemung Canal Trust Co. grew its position in shares of Apple by 40.4% in the 3rd quarter. Chemung Canal Trust Co. now owns 58,152 shares of the iPhone maker’s stock worth $13,549,000 after acquiring an additional 16,746 shares in the last quarter. MRA Advisory Group increased its stake in Apple by 14.0% during the third quarter. MRA Advisory Group now owns 22,619 shares of the iPhone maker’s stock valued at $5,270,000 after purchasing an additional 2,771 shares during the last quarter. Finally, Moody National Bank Trust Division grew its holdings in shares of Apple by 7.5% during the third quarter. Moody National Bank Trust Division now owns 160,653 shares of the iPhone maker’s stock valued at $37,432,000 after purchasing an additional 11,213 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

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.