Apple’s (AAPL) “Buy” Rating Reaffirmed at Rosenblatt Securities

Apple (NASDAQ:AAPL)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a research report issued on Thursday,Benzinga reports. They presently have a $263.00 target price on the iPhone maker’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 17.47% from the stock’s current price.

Several other equities analysts also recently weighed in on AAPL. Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Morgan Stanley cut their price target on shares of Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. KeyCorp reiterated an “underweight” rating and set a $200.00 target price on shares of Apple in a report on Friday, January 31st. Finally, UBS Group increased their price target on Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.70.

Apple Stock Up 0.3 %

Shares of NASDAQ:AAPL opened at $223.89 on Thursday. 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 company has a market capitalization of $3.36 trillion, a P/E ratio of 35.54, a P/E/G ratio of 2.44 and a beta of 1.18. Apple has a 52-week low of $164.08 and a 52-week high of $260.10. The stock’s fifty day simple moving average is $230.55 and its 200-day simple moving average is $233.36.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 research analysts forecast that Apple will post 7.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apple

A number of hedge funds have recently added to or reduced their stakes in AAPL. Drystone LLC acquired a new position in Apple during the 4th quarter valued at about $25,000. Bull Oak Capital LLC raised its holdings in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. Conquis Financial LLC acquired a new position in shares of Apple during the fourth quarter worth approximately $63,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter worth approximately $65,000. Finally, SPX Gestao de Recursos Ltda bought a new position in Apple in the 3rd quarter worth approximately $71,000. 67.73% of the stock is currently owned by 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.