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

Shares of Apple Inc. (NASDAQ:AAPL) shot 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.

A number of other analysts also recently issued reports on AAPL. Evercore reissued an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. Morgan Stanley set a $364.00 target price on shares of Apple and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Apple in a research report on Wednesday, July 15th. Wedbush reiterated an “outperform” rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. Finally, Bank of America reissued a “buy” rating and set a $380.00 price target on shares of Apple in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $327.40.

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Key Stories Impacting Apple

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 Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Overbrook Management Corp grew its stake in Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after purchasing an additional 38,174 shares during the period. Rainier Family Wealth Inc. lifted its stake in Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock valued at $6,189,000 after buying an additional 3,014 shares during the period. Torren Management LLC acquired a new position in Apple in the fourth quarter valued at approximately $1,178,000. Summit Wealth Partners LLC boosted its holdings in shares of Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after buying an additional 18,188 shares in the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new position in shares of Apple during the 4th quarter worth approximately $105,482,000. 67.73% of the stock is owned by institutional investors.

Apple Trading Up 3.5%

The company has a market cap of $4.89 trillion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 2.78 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $306.62 and its 200 day moving average price is $279.01.

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

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is currently 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.