Apple (NASDAQ:AAPL - Get Free Report) had its price objective cut by Loop Capital from $300.00 to $275.00 in a research report issued on Monday, Briefing.com reports. The firm currently has a "buy" rating on the iPhone maker's stock. Loop Capital's price objective would indicate a potential upside of 23.86% from the company's previous close.
Several other brokerages have also issued reports on AAPL. StockNews.com lowered Apple from a "buy" rating to a "hold" rating in a research report on Friday. Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and increased their price objective for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Moffett Nathanson initiated coverage on shares of Apple in a report on Monday, August 19th. They set a "neutral" rating and a $211.00 price objective on the stock. Barclays reduced their target price on shares of Apple from $186.00 to $184.00 and set an "underweight" rating for the company in a research note on Friday. Finally, Oppenheimer reissued a "buy" rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.51.
Check Out Our Latest Stock Analysis on Apple
NASDAQ AAPL traded down $0.88 during trading hours on Monday, hitting $222.03. The company's stock had a trading volume of 9,023,852 shares, compared to its average volume of 59,162,477. The stock has a fifty day moving average of $227.18 and a 200 day moving average of $212.64. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market capitalization of $3.38 trillion, a P/E ratio of 36.39, a PEG ratio of 2.41 and a beta of 1.24.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 analyst estimates of $94.52 billion. Apple had a return on equity of 145.09% and a net margin of 23.97%. The company's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities research analysts forecast that Apple will post 7.48 earnings per share for the current fiscal year.
In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company's stock, valued at approximately $3,469,275. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,469,275. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 417,924 shares of company stock worth $94,142,399. Company insiders own 0.06% of the company's stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norway Savings Bank lifted its holdings in Apple by 1.8% during the 1st quarter. Norway Savings Bank now owns 47,130 shares of the iPhone maker's stock worth $8,082,000 after buying an additional 815 shares during the period. New England Research & Management Inc. boosted its holdings in Apple by 6.3% in the first quarter. New England Research & Management Inc. now owns 32,702 shares of the iPhone maker's stock valued at $5,608,000 after acquiring an additional 1,941 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its position in Apple by 7.7% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 29,302 shares of the iPhone maker's stock valued at $5,060,000 after purchasing an additional 2,088 shares during the period. Fidelity D & D Bancorp Inc. increased its position in Apple by 9.6% during the 1st quarter. Fidelity D & D Bancorp Inc. now owns 10,067 shares of the iPhone maker's stock valued at $1,726,000 after purchasing an additional 884 shares during the period. Finally, Total Investment Management Inc. lifted its position in shares of Apple by 4.5% in the 1st quarter. Total Investment Management Inc. now owns 31,804 shares of the iPhone maker's stock worth $5,454,000 after purchasing an additional 1,363 shares during the period. Institutional investors and hedge funds own 60.41% of the company's stock.
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.
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