Apple (NASDAQ:AAPL) Upgraded to “Outperform” at Sanford C. Bernstein

Apple (NASDAQ:AAPL) was upgraded by research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage presently has a $195.00 target price on the iPhone maker’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 15.18% from the stock’s current price.

A number of other research firms have also issued reports on AAPL. Piper Sandler Companies lowered shares of Apple to a “neutral” rating and reduced their target price for the company from $220.00 to $205.00 in a report on Thursday, January 4th. Barclays restated an “underweight” rating and issued a $158.00 target price on shares of Apple in a report on Tuesday, April 23rd. DA Davidson initiated coverage on shares of Apple in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 target price on the stock. DZ Bank restated a “hold” rating and issued a $180.00 target price on shares of Apple in a report on Thursday, March 28th. Finally, Piper Sandler reduced their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $203.05.

Apple Price Performance

Apple stock opened at $169.30 on Monday. Apple has a 52 week low of $164.07 and a 52 week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The firm’s 50-day simple moving average is $173.04 and its 200 day simple moving average is $181.83. The firm has a market capitalization of $2.61 trillion, a PE ratio of 26.37, a P/E/G ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same period in the previous year, the firm earned $1.88 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Apple will post 6.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 over the last three months. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently bought and sold shares of AAPL. Wyrmwood Management LLC lifted its holdings in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple during the 1st quarter valued at about $35,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple during the 4th quarter valued at about $39,000. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

About Apple

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.