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

Apple (NASDAQ:AAPL) had its price objective increased by Morgan Stanley from $220.00 to $235.00 in a research report sent to investors on Monday morning, MarketBeat reports. Morgan Stanley currently has an overweight rating on the iPhone maker’s stock.

A number of other research firms have also commented on AAPL. China Renaissance initiated coverage on Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price for the company. Raymond James boosted their target price on Apple to $250.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price target on shares of Apple in a report on Monday, April 14th. Moffett Nathanson reissued a “sell” rating and set a $188.00 price objective (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Finally, Redburn Partners set a $230.00 target price on shares of Apple in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.63.

Apple Trading Up 0.6 %

Apple stock opened at $212.50 on Monday. The company has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The business’s fifty day simple moving average is $213.66 and its two-hundred day simple moving average is $228.95. Apple has a 12 month low of $169.11 and a 12 month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, equities analysts predict that Apple will post 7.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,021 shares of company stock valued at $41,760,140. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apple

A number of hedge funds have recently made changes to their positions in the stock. O Connor Financial Group LLC raised its holdings in Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after purchasing an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. increased its position in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after buying an additional 45 shares during the period. Advanced Portfolio Management LLC lifted its holdings in Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after buying an additional 47 shares during the period. Menard Financial Group LLC grew its holdings in Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after acquiring an additional 48 shares during the period. Finally, Hanseatic Management Services Inc. raised its position in shares of Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after acquiring an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.