Apple (NASDAQ:AAPL – Get Rating) had its price target reduced by equities researchers at Oppenheimer from $190.00 to $170.00 in a research note issued to investors on Monday, The Fly reports. Oppenheimer’s price objective would suggest a potential upside of 19.58% from the company’s current price.
Several other research firms have also commented on AAPL. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a research note on Monday, September 12th. Citigroup reissued a “buy” rating and set a $175.00 target price on shares of Apple in a research note on Tuesday, November 8th. DA Davidson cut their price target on shares of Apple to $167.00 in a report on Thursday, December 1st. Monness Crespi & Hardt initiated coverage on shares of Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a report on Monday, November 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.65.
Apple Stock Down 0.3 %
AAPL stock opened at $142.16 on Monday. Apple has a 12 month low of $129.04 and a 12 month high of $182.94. The firm has a market cap of $2.26 trillion, a PE ratio of 23.27, a P/E/G ratio of 1.83 and a beta of 1.22. The firm has a 50 day simple moving average of $145.41 and a 200 day simple moving average of $149.78. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.
Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. During the same period in the prior year, the business earned $1.24 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Apple will post 6.22 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. In the last three months, insiders sold 380,851 shares of company stock valued at $56,707,789. Company insiders own 0.06% of the company’s stock.
Institutional Trading of Apple
Hedge funds have recently bought and sold shares of the stock. Robinson Value Management Ltd. bought a new stake in Apple in the 3rd quarter valued at $28,000. Hanseatic Management Services Inc. lifted its holdings in shares of Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after acquiring an additional 107 shares during the period. Cheyne Capital Management UK LLP lifted its holdings in shares of Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after acquiring an additional 550 shares during the period. Spence Asset Management bought a new position in shares of Apple during the 2nd quarter worth about $49,000. Finally, Ramsey Quantitative Systems bought a new position in shares of Apple during the 2nd quarter worth about $55,000. 57.72% of the stock is owned by institutional investors.
Apple Company Profile
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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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