Apple (NASDAQ:AAPL) Given New $183.00 Price Target at Barclays

Apple (NASDAQ:AAPL) had its price target cut by Barclays from $184.00 to $183.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the iPhone maker’s stock.

AAPL has been the subject of several other research reports. Evercore ISI restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Rosenblatt Securities boosted their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group reissued a “neutral” rating and issued a $236.00 price objective on shares of Apple in a report on Monday, December 2nd. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Finally, Jefferies Financial Group cut shares of Apple from a “hold” rating to an “underperform” rating and cut their price target for the company from $211.84 to $200.75 in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $237.99.

Apple Stock Up 0.5 %

Shares of Apple stock opened at $223.83 on Wednesday. The firm has a market cap of $3.37 trillion, a PE ratio of 36.81, a P/E/G ratio of 2.25 and a beta of 1.20. The business’s 50 day simple moving average is $241.09 and its 200 day simple moving average is $230.82. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the company earned $1.46 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Apple will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Apple

Hedge funds have recently added to or reduced their stakes in the stock. High Net Worth Advisory Group LLC raised its position in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares during the last quarter. Granite Investment Partners LLC increased its stake in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp raised its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC boosted its position in Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners grew its holdings in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after acquiring an additional 28,799 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

About Apple

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.