Apple (NASDAQ:AAPL) PT Raised to $350.00 at Jefferies Financial Group

Apple (NASDAQ:AAPL) had its price target boosted by analysts at Jefferies Financial Group from $285.00 to $350.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the iPhone maker’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 12.78% from the stock’s previous close. Jefferies Financial Group also issued estimates for Apple’s Q1 2020 earnings at $4.71 EPS, Q2 2020 earnings at $3.05 EPS, Q3 2020 earnings at $2.56 EPS, Q4 2020 earnings at $3.60 EPS, FY2020 earnings at $13.95 EPS, Q1 2021 earnings at $5.84 EPS, Q2 2021 earnings at $3.62 EPS, Q3 2021 earnings at $2.92 EPS, Q4 2021 earnings at $3.72 EPS and FY2021 earnings at $16.15 EPS.

Several other research analysts also recently commented on the company. Nomura restated a “hold” rating and set a $225.00 price objective on shares of Apple in a report on Tuesday, December 10th. Cascend Securities raised their price objective on Apple from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Deutsche Bank raised their price objective on Apple from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. They noted that the move was a valuation call. Maxim Group downgraded Apple to a “sell” rating and set a $190.00 price objective on the stock. in a report on Wednesday, December 4th. Finally, Evercore ISI restated an “outperform” rating and set a $305.00 price objective (up from $275.00) on shares of Apple in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $268.29.

AAPL opened at $310.33 on Thursday. The stock’s fifty day moving average is $279.66 and its two-hundred day moving average is $235.43. The company has a market capitalization of $1,357.43 billion, a P/E ratio of 26.10, a PEG ratio of 2.24 and a beta of 1.25. Apple has a 52 week low of $149.22 and a 52 week high of $312.67. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, topping the consensus estimate of $2.84 by $0.19. The company had revenue of $64.04 billion for the quarter, compared to the consensus estimate of $62.86 billion. Apple had a return on equity of 53.82% and a net margin of 21.24%. Apple’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $2.91 EPS. Equities analysts anticipate that Apple will post 13.15 earnings per share for the current year.

In related news, Director Arthur D. Levinson sold 37,394 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the transaction, the director now directly owns 1,170,677 shares in the company, valued at approximately $301,788,823.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 3,932 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $233.26, for a total value of $917,178.32. Following the transaction, the insider now owns 15,464 shares in the company, valued at $3,607,132.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,785 shares of company stock worth $13,472,882. 0.05% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in AAPL. Kahn Brothers Group Inc. DE purchased a new position in Apple during the 3rd quarter worth $112,000. Belvedere Advisors LLC acquired a new stake in Apple during the 2nd quarter worth about $119,000. Fulcrum Equity Management acquired a new stake in Apple during the 3rd quarter worth about $135,000. Poplar Forest Capital LLC acquired a new stake in Apple during the 3rd quarter worth about $205,000. Finally, S&T Bank PA acquired a new stake in Apple during the 2nd quarter worth about $207,000. Hedge funds and other institutional investors own 59.14% of the company’s stock.

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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