Apple (NASDAQ:AAPL) Stock Price Expected to Rise, Barclays Analyst Says

Apple (NASDAQ:AAPLGet Free Report) had its price objective raised by research analysts at Barclays from $239.00 to $248.00 in a report issued on Tuesday. The firm presently has an “underweight” rating on the iPhone maker’s stock. Barclays‘s target price would suggest a potential downside of 6.32% from the stock’s previous close.

AAPL has been the topic of a number of other reports. Stifel Nicolaus set a $330.00 target price on shares of Apple in a research note on Monday. Raymond James Financial restated a “market perform” rating on shares of Apple in a report on Friday, January 2nd. KGI Securities upgraded Apple to an “outperform” rating and set a $306.00 price objective on the stock in a report on Friday, January 30th. DZ Bank upgraded Apple from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, November 4th. Finally, Monness Crespi & Hardt lifted their target price on Apple from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.68.

View Our Latest Report on AAPL

Apple Stock Performance

NASDAQ AAPL opened at $264.72 on Tuesday. The stock has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 33.47, a PEG ratio of 2.36 and a beta of 1.10. Apple has a twelve month low of $169.21 and a twelve month high of $288.62. The company has a current ratio of 0.97, a quick ratio of 0.94 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average of $264.54 and a 200 day moving average of $259.82.

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 the consensus estimate of $2.67 by $0.17. Apple had a net margin of 27.04% and a return on equity of 159.94%. The company had revenue of $143.76 billion during the quarter, compared to analyst estimates of $138.25 billion. During the same quarter in the previous year, the firm earned $2.40 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Apple will post 7.28 EPS for the current fiscal year.

Institutional Trading of Apple

Several hedge funds have recently added to or reduced their stakes in AAPL. Isthmus Partners LLC grew its position in shares of Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after acquiring an additional 5,808 shares during the last quarter. Sellwood Investment Partners LLC grew its position in Apple by 110.9% during the 3rd quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 71 shares during the last quarter. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. Nexus Investment Management ULC raised its holdings in shares of Apple by 333.3% in the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after buying an additional 200 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Trending Headlines about Apple

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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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