Loop Capital Boosts Apple (NASDAQ:AAPL) Price Target to $300.00

Apple (NASDAQ:AAPL) had its target price upped by Loop Capital to $300.00 in a report issued on Monday morning, Stock Target Advisor reports. They currently have a buy rating on the iPhone maker’s stock.

Several other equities research analysts have also commented on the stock. Maxim Group restated a “hold” rating and issued a $203.00 price target on shares of Apple in a report on Tuesday, September 10th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research note on Tuesday, September 10th. UBS Group reaffirmed a “hold” rating and set a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Barclays restated an “underweight” rating and set a $186.00 price objective on shares of Apple in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.27.

Apple Trading Down 0.1 %

AAPL opened at $230.57 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average is $226.64 and its two-hundred day moving average is $209.48. The company has a market capitalization of $3.54 trillion, a P/E ratio of 35.86, a PEG ratio of 2.40 and a beta of 1.24. Apple has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 EPS. Analysts forecast that Apple will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Hedge funds have recently bought and sold shares of the business. Lantz Financial LLC raised its stake in Apple by 6.3% in the 1st quarter. Lantz Financial LLC now owns 27,390 shares of the iPhone maker’s stock valued at $4,697,000 after purchasing an additional 1,615 shares during the last quarter. Compass Financial Group INC SD lifted its stake in shares of Apple by 3.8% in the first quarter. Compass Financial Group INC SD now owns 14,893 shares of the iPhone maker’s stock worth $2,554,000 after buying an additional 543 shares in the last quarter. Legacy Financial Strategies LLC boosted its position in Apple by 2.3% during the first quarter. Legacy Financial Strategies LLC now owns 28,751 shares of the iPhone maker’s stock worth $4,930,000 after acquiring an additional 649 shares during the last quarter. American National Bank grew its stake in Apple by 14.1% during the 1st quarter. American National Bank now owns 192,245 shares of the iPhone maker’s stock valued at $32,966,000 after acquiring an additional 23,827 shares in the last quarter. Finally, BCS Wealth Management raised its holdings in Apple by 21.8% in the 1st quarter. BCS Wealth Management now owns 35,178 shares of the iPhone maker’s stock valued at $6,032,000 after acquiring an additional 6,285 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

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.