Apple (NASDAQ:AAPL) Price Target Cut to $133.00

Apple (NASDAQ:AAPLGet Rating) had its price target decreased by analysts at Barclays from $144.00 to $133.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “equal weight” rating on the iPhone maker’s stock. Barclays‘s price target suggests a potential downside of 0.31% from the stock’s current price.

Other research analysts have also issued reports about the stock. Bank of America cut their target price on shares of Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Fundamental Research increased their price target on shares of Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Rosenblatt Securities reissued a “buy” rating and set a $189.00 price target on shares of Apple in a research note on Tuesday, November 8th. Finally, Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and reduced their target price for the company from $189.00 to $160.00 in a report on Friday, September 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $171.93.

Apple Price Performance

NASDAQ:AAPL opened at $133.41 on Wednesday. The firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.68 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a fifty day moving average of $139.41 and a 200 day moving average of $148.23. Apple has a 52-week low of $124.17 and a 52-week high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. During the same period in the prior year, the business earned $1.24 earnings per share. Apple’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts expect that Apple will post 6.19 EPS for the current fiscal year.

Insider Activity

In related news, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,414,510.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,414,510.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 20,200 shares of Apple stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 204,552 shares of company stock worth $31,645,123. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently modified their holdings of AAPL. Wealthspire Advisors LLC raised its holdings in Apple by 42.8% in the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after buying an additional 89,865 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Apple by 8.3% during the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock valued at $13,029,000 after acquiring an additional 5,703 shares in the last quarter. Emerald Advisors LLC raised its holdings in Apple by 2.4% in the 2nd quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock worth $2,721,000 after acquiring an additional 465 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in Apple by 35.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock valued at $3,501,000 after acquiring an additional 6,735 shares in the last quarter. Finally, Callan Capital LLC boosted its stake in Apple by 1.6% during the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock valued at $11,652,000 after purchasing an additional 1,322 shares during the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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.

Featured Stories

The Fly logo

Analyst Recommendations for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.