Apple (NASDAQ:AAPL) Shares Up 3.5% After Analyst Upgrade

Shares of Apple Inc. (NASDAQ:AAPL) traded up 3.5% during trading on Friday after Robert W. Baird raised their price target on the stock from $310.00 to $330.00. Robert W. Baird currently has an outperform rating on the stock. Apple traded as high as $334.37 and last traded at $333.02. Approximately 47,281,316 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 50,310,352 shares. The stock had previously closed at $321.66.

AAPL has been the topic of a number of other research reports. KGI Securities lowered Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a research report on Monday, June 22nd. Morgan Stanley set a $364.00 price target on Apple and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer reaffirmed a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 price objective on the stock. in a report on Tuesday, July 14th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.40.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
• Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
• Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
• Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
• Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.

Institutional Trading of Apple

A number of institutional investors have recently bought and sold shares of the business. Lifetime Wealth Management P.C. acquired a new stake in Apple in the fourth quarter valued at about $41,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Timmons Wealth Management LLC acquired a new position in Apple during the 4th quarter worth approximately $69,000. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth approximately $65,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple during the 4th quarter worth approximately $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 3.5%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a fifty day moving average price of $306.62 and a 200 day moving average price of $279.01. The firm has a market capitalization of $4.89 trillion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.88 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio is presently 13.06%.

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.