Apple (NASDAQ:AAPL) Price Target Lowered to $202.00 at Moffett Nathanson

Apple (NASDAQ:AAPL) had its target price trimmed by Moffett Nathanson from $211.00 to $202.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a neutral rating on the iPhone maker’s stock.

Other analysts also recently issued research reports about the company. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Finally, Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $235.25.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $228.28 on Tuesday. The company has a 50 day simple moving average of $227.34 and a two-hundred day simple moving average of $217.31. The stock has a market cap of $3.45 trillion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.20 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple has a 12 month low of $164.07 and a 12 month high of $237.49.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is 16.45%.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 in the last three months. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apple

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Granite Investment Partners LLC increased its position in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp boosted its position in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares during the period. EP Wealth Advisors LLC increased its holdings in Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after purchasing an additional 95,235 shares during the last quarter. Bellwether Advisors LLC increased its holdings in Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Finally, Gentry Private Wealth LLC purchased a new stake in Apple in the second quarter valued at approximately $876,000. Hedge funds and other institutional investors own 60.41% 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.