Apple (NASDAQ:AAPL) Now Covered by Analysts at Rosenblatt Securities

Equities researchers at Rosenblatt Securities initiated coverage on shares of Apple (NASDAQ:AAPLGet Rating) in a research report issued on Tuesday, Briefing.com reports. The brokerage set a “neutral” rating and a $184.00 price target on the iPhone maker’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 11.47% from the company’s current price.

AAPL has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price objective on Apple from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, January 28th. StockNews.com initiated coverage on Apple in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research reissued a “buy” rating on shares of Apple in a research note on Wednesday, March 2nd. Raymond James increased their price target on Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, January 28th. Finally, Loop Capital increased their price target on Apple from $165.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, January 14th. Eight analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Buy” and an average price target of $190.24.

Shares of AAPL opened at $165.07 on Tuesday. The firm has a market capitalization of $2.69 trillion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.15 and a beta of 1.19. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.00 and a current ratio of 1.04. The business’s fifty day moving average price is $167.19 and its two-hundred day moving average price is $163.96. Apple has a 52 week low of $122.25 and a 52 week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, January 27th. The iPhone maker reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.21. The firm had revenue of $123.95 billion for the quarter, compared to analyst estimates of $118.53 billion. Apple had a return on equity of 149.81% and a net margin of 26.58%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.68 EPS. As a group, research analysts forecast that Apple will post 6.16 EPS for the current year.

In other Apple news, Director Arthur D. Levinson sold 1,986 shares of the business’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $173.29, for a total transaction of $344,153.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 3rd. The shares were sold at an average price of $174.78, for a total value of $4,369,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 162,085 shares of company stock worth $28,728,085 over the last three months. Insiders own 0.06% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new position in Apple during the third quarter worth about $29,000. Joseph Group Capital Management bought a new position in shares of Apple during the 4th quarter worth approximately $1,631,000. Cardinal Capital Management Inc. increased its holdings in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in Apple in the 4th quarter valued at $41,000. Finally, St. James Investment Advisors LLC acquired a new stake in Apple during the 4th quarter valued at $57,000. Institutional investors own 57.98% of the company’s stock.

About Apple (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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