Apple (NASDAQ:AAPL) has been given a $245.00 price objective by equities research analysts at Wedbush in a note issued to investors on Sunday, TipRanks reports. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Wedbush’s price target indicates a potential upside of 11.32% from the stock’s previous close.

Several other equities research analysts also recently commented on AAPL. Macquarie set a $210.00 price objective on shares of Apple and gave the company a “hold” rating in a report on Tuesday, September 10th. Daiwa Capital Markets set a $223.00 price objective on shares of Apple and gave the company a “buy” rating in a report on Wednesday, August 7th. ValuEngine upgraded Apple from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Canaccord Genuity reiterated a “buy” rating and set a $240.00 price target (up from $202.00) on shares of Apple in a research report on Wednesday, July 31st. Finally, Nomura upped their price target on Apple from $180.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $217.25.

NASDAQ AAPL traded up $0.19 during trading on Friday, hitting $220.09. 7,857,754 shares of the company’s stock traded hands, compared to its average volume of 25,504,868. The stock has a market capitalization of $988.57 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.81 and a beta of 1.24. Apple has a 12-month low of $142.00 and a 12-month high of $233.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The business has a 50 day moving average of $208.04 and a 200-day moving average of $197.38.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.08. The business had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. On average, analysts expect that Apple will post 11.68 EPS for the current year.

In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the sale, the director now owns 1,150,783 shares of the company’s stock, valued at $232,101,423.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,536 shares of company stock worth $62,894,611. 0.05% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Semmax Financial Advisors Inc. purchased a new stake in Apple in the fourth quarter worth $50,000. Avondale Wealth Management lifted its stake in Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after acquiring an additional 64 shares during the period. NuWave Investment Management LLC lifted its stake in Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after acquiring an additional 449 shares during the period. Horan Securities Inc. lifted its stake in Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after acquiring an additional 221 shares during the period. Finally, C M Bidwell & Associates Ltd. lifted its stake in Apple by 339.1% in the second quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock worth $151,000 after acquiring an additional 590 shares during the period. 58.63% of the stock is owned by institutional investors and hedge funds.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Analyst Recommendations for Apple (NASDAQ:AAPL)

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