Apple (NASDAQ:AAPL) Given New $275.00 Price Target at Wells Fargo & Company

Apple (NASDAQ:AAPL) had its target price raised by investment analysts at Wells Fargo & Company to $275.00 in a research note issued to investors on Monday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.24% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson cut their target price on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. Citigroup increased their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Loop Capital decreased their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $236.78.

Apple Stock Down 0.1 %

Shares of NASDAQ AAPL traded down $0.20 during mid-day trading on Monday, reaching $242.84. 36,870,619 shares of the company’s stock were exchanged, compared to its average volume of 41,328,356. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $230.53 and a 200 day simple moving average of $221.83. Apple has a twelve month low of $164.07 and a twelve month high of $244.63. The firm has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. As a group, equities analysts expect that Apple will post 7.43 EPS for the current fiscal year.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Institutional investors have recently bought and sold shares of the company. Granite Investment Partners LLC lifted its stake in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the period. High Net Worth Advisory Group LLC lifted its holdings in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the period. Truist Financial Corp increased its position in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares during the period. Finally, CHICAGO TRUST Co NA grew its stake in shares of Apple by 15.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.