Apple (NASDAQ:AAPL) Stock Price Up 0.5% on Analyst Upgrade

Apple Inc. (NASDAQ:AAPLGet Free Report)’s share price was up 0.5% on Tuesday after Morgan Stanley raised their price target on the stock from $220.00 to $235.00. Morgan Stanley currently has an overweight rating on the stock. Apple traded as high as $212.24 and last traded at $211.10. Approximately 10,912,318 shares traded hands during trading, a decline of 81% from the average daily volume of 56,561,880 shares. The stock had previously closed at $210.14.

Several other analysts have also recently weighed in on AAPL. Monness Crespi & Hardt upped their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wedbush decreased their price objective on shares of Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, April 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Apple in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price objective on shares of Apple from $259.00 to $256.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, TD Cowen reissued a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $232.63.

View Our Latest Research Report on Apple

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,021 shares of company stock worth $41,760,140. Insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Institutional investors and hedge funds have recently bought and sold shares of the business. Drystone LLC bought a new position in shares of Apple during the fourth quarter worth approximately $25,000. Conquis Financial LLC bought a new position in shares of Apple during the fourth quarter worth approximately $63,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter worth approximately $65,000. Elite Financial Inc. bought a new position in shares of Apple during the first quarter worth approximately $58,000. Finally, SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the third quarter worth approximately $71,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

The company has a market cap of $3.19 trillion, a P/E ratio of 33.73, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average price of $213.66 and a two-hundred day moving average price of $228.95.

Apple (NASDAQ:AAPLGet Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.