Apple (NASDAQ:AAPL - Get Free Report) had its price objective decreased by equities researchers at Morgan Stanley from $275.00 to $252.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the iPhone maker's stock. Morgan Stanley's price objective would suggest a potential upside of 14.11% from the stock's current price.
A number of other research firms have also recently commented on AAPL. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a research note on Wednesday, February 19th. Raymond James upped their target price on Apple to $250.00 and gave the company a "buy" rating in a research report on Monday, January 20th. DA Davidson set a $290.00 price target on Apple in a research report on Friday, January 31st. Moffett Nathanson reissued a "sell" rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Finally, Citigroup lifted their target price on Apple from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $243.22.
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Apple Stock Performance
Shares of AAPL stock opened at $220.84 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.32 trillion, a PE ratio of 35.05, a PEG ratio of 2.44 and a beta of 1.18. Apple has a 12-month low of $164.08 and a 12-month high of $260.10. The business's fifty day simple moving average is $236.47 and its 200-day simple moving average is $234.12.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Analysts expect that Apple will post 7.28 earnings per share for the current fiscal year.
Insider Activity
In related news, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. High Net Worth Advisory Group LLC grew its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock valued at $14,916,000 after buying an additional 1,066 shares in the last quarter. Amara Financial LLC. purchased a new stake in shares of Apple in the third quarter valued at about $288,000. Truist Financial Corp increased its position in Apple by 1.8% during the second 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 last quarter. Sterling Investment Counsel LLC raised its stake in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock worth $16,269,000 after purchasing an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners grew its stake in shares of Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock valued at $59,122,000 after buying an additional 28,799 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Company Profile
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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.
Further Reading
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