Apple (NASDAQ:AAPL) PT Lowered to $210.00

Apple (NASDAQ:AAPL) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $215.00 to $210.00 in a research report issued on Thursday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the iPhone maker’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 18.95% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Redburn Atlantic cut Apple from a “buy” rating to a “neutral” rating and set a $200.00 price target for the company. in a report on Wednesday, January 10th. Robert W. Baird upped their price target on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Monness Crespi & Hardt increased their target price on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Needham & Company LLC reissued a “buy” rating and set a $220.00 target price on shares of Apple in a report on Friday, February 2nd. Finally, Citigroup reissued a “buy” rating and set a $225.00 target price on shares of Apple in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $204.08.

Apple Stock Up 0.9 %

Shares of AAPL opened at $176.55 on Thursday. Apple has a 52 week low of $161.42 and a 52 week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $2.73 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 2.02 and a beta of 1.27. The stock’s 50-day moving average price is $176.70 and its 200-day moving average price is $182.15.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. On average, sell-side analysts predict that Apple will post 6.55 EPS for the current year.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 253,915 shares of company stock worth $44,202,868 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Hedge funds have recently modified their holdings of the stock. Conservest Capital Advisors Inc. raised its stake in Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after buying an additional 55 shares in the last quarter. Flagstone Financial Management raised its stake in Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 56 shares in the last quarter. Horizon Family Wealth Inc. raised its stake in Apple by 0.6% in the fourth quarter. Horizon Family Wealth Inc. now owns 9,202 shares of the iPhone maker’s stock valued at $1,772,000 after buying an additional 57 shares in the last quarter. High Pines Wealth Management LLC raised its stake in Apple by 0.7% in the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares in the last quarter. Finally, Kraft Davis & Associates LLC raised its stake in Apple by 0.9% in the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after buying an additional 59 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Company Profile

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.