Tigress Financial Boosts Apple (NASDAQ:AAPL) Price Target to $300.00

Apple (NASDAQ:AAPL) had its target price increased by research analysts at Tigress Financial from $295.00 to $300.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the iPhone maker’s stock. Tigress Financial’s price target indicates a potential upside of 59.25% from the stock’s previous close.

A number of other brokerages have also recently weighed in on AAPL. UBS Group upped their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Argus raised shares of Apple to a “strong-buy” rating in a research report on Friday, January 31st. Barclays raised their price target on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Citigroup boosted their price objective on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $245.26.

Apple Trading Down 7.3 %

NASDAQ AAPL opened at $188.38 on Thursday. Apple has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company’s 50-day simple moving average is $229.45 and its two-hundred day simple moving average is $232.96.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts forecast that Apple will post 7.28 EPS for the current fiscal year.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This represents a 3.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AAPL. Norges Bank acquired a new position in shares of Apple during the fourth quarter valued at approximately $46,868,648,000. International Assets Investment Management LLC increased its position in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. State Street Corp raised its stake in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock valued at $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Institutional investors and hedge funds 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.