Apple (NASDAQ:AAPL) Rating Reiterated by Needham & Company LLC

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $220.00 price target on the iPhone maker’s stock. Needham & Company LLC’s target price indicates a potential upside of 27.40% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. The Goldman Sachs Group upped their target price on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley reissued an “overweight” rating and set a $220.00 price target on shares of Apple in a research report on Friday, March 22nd. Robert W. Baird upped their price target on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Loop Capital dropped their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Finally, UBS Group reissued a “hold” rating and set a $190.00 price target on shares of Apple in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $204.08.

Apple Trading Down 2.2 %

NASDAQ:AAPL opened at $172.69 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple has a 52-week low of $162.80 and a 52-week high of $199.62. The company has a market capitalization of $2.67 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27. The stock has a fifty day simple moving average of $176.40 and a 200-day simple moving average of $182.32.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.88 EPS. On average, equities research analysts expect that Apple will post 6.55 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock valued at $63,653,887. Insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wyrmwood Management LLC lifted its position in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the period. Atlantic Private Wealth LLC bought a new position in shares of Apple during the 1st quarter worth approximately $30,000. Gilfoyle & Co LLC lifted its position in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after buying an additional 118 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple during the 4th quarter worth approximately $39,000. Finally, Cheyne Capital Management UK LLP raised its position in Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 60.41% 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.