Morgan Stanley Lowers Apple (NASDAQ:AAPL) Price Target to $210.00

Apple (NASDAQ:AAPL) had its price objective lowered by Morgan Stanley from $220.00 to $210.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the iPhone maker’s stock. Morgan Stanley’s target price points to a potential upside of 25.82% from the company’s previous close.

AAPL has been the topic of several other research reports. Maxim Group assumed coverage on shares of Apple in a research report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 target price on the stock. Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Wednesday, January 10th. DZ Bank restated a “hold” rating and set a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. Robert W. Baird boosted their price target on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Loop Capital lowered their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.05.

Apple Stock Up 0.6 %

Shares of NASDAQ AAPL opened at $166.90 on Monday. The company’s 50-day simple moving average is $173.88 and its 200-day simple moving average is $182.03. Apple has a 52-week low of $162.80 and a 52-week high of $199.62. The firm has a market cap of $2.58 trillion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same quarter last year, the business earned $1.88 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that Apple will post 6.54 EPS for the current fiscal year.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,271 shares of company stock valued at $63,653,887. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

A number of large investors have recently modified their holdings of the company. Wyrmwood Management LLC boosted its holdings in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter valued at $39,000. Gilfoyle & Co LLC boosted its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. boosted its holdings in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Apple in the 4th quarter valued at $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

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.