Apple (NASDAQ:AAPL - Get Free Report) had its price objective lowered by analysts at UBS Group from $236.00 to $210.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the iPhone maker's stock. UBS Group's price objective would indicate a potential upside of 0.34% from the company's current price.
Other analysts also recently issued reports about the company. Argus upgraded Apple to a "strong-buy" rating in a research report on Friday, January 31st. Sanford C. Bernstein upped their price target on shares of Apple from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, China Renaissance initiated coverage on Apple in a research report on Tuesday. They issued a "buy" rating and a $241.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $233.88.
View Our Latest Report on Apple
Apple Stock Up 0.4 %
AAPL stock traded up $0.91 during trading hours on Wednesday, reaching $209.28. 38,183,408 shares of the stock were exchanged, compared to its average volume of 56,765,391. The company has a market cap of $3.14 trillion, a price-to-earnings ratio of 33.22, a PEG ratio of 2.44 and a beta of 1.26. The firm's 50-day moving average is $215.71 and its 200-day moving average is $229.31. Apple has a 12 month low of $169.11 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts expect that Apple will post 7.28 earnings per share for the current year.
Insider Activity at Apple
In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now owns 3,280,295 shares of the company's stock, valued at approximately $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,021 shares of company stock valued at $41,760,140 over the last ninety days. Corporate insiders own 0.06% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Drystone LLC bought a new position in shares of Apple during the 4th quarter worth $25,000. Conquis Financial LLC purchased a new position in shares of Apple in the fourth quarter worth about $63,000. LSV Asset Management bought a new stake in shares of Apple in the fourth quarter valued at approximately $65,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the 3rd quarter valued at approximately $71,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the 4th quarter worth approximately $82,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
About Apple
(
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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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