Apple (NASDAQ:AAPL) PT Lowered to $210.00

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

Several other equities analysts have also recently commented on AAPL. UBS Group reaffirmed a “hold” rating and set a $190.00 price target on shares of Apple in a research report on Monday, March 25th. The Goldman Sachs Group raised their target price on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Piper Sandler cut their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Oppenheimer reissued an “outperform” rating and issued a $200.00 target price on shares of Apple in a report on Friday, February 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $204.08.

Apple Stock Performance

Shares of AAPL stock opened at $176.55 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. Apple has a one year low of $161.42 and a one year high of $199.62. The company’s 50-day simple moving average is $176.70 and its 200-day simple moving average is $182.15. The stock 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.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping 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 analysts’ expectations of $117.99 billion. During the same quarter last year, the company posted $1.88 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Apple will post 6.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred 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 transaction, the senior vice president now 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 Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,915 shares of company stock worth $44,202,868. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Apple

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sarasin & Partners LLP boosted its stake in shares of Apple by 86.4% during the 1st quarter. Sarasin & Partners LLP now owns 2,330,602 shares of the iPhone maker’s stock valued at $399,652,000 after buying an additional 1,080,293 shares during the period. DLK Investment Management LLC boosted its stake in shares of Apple by 3.2% during the 1st quarter. DLK Investment Management LLC now owns 77,282 shares of the iPhone maker’s stock valued at $13,252,000 after buying an additional 2,390 shares during the period. New England Professional Planning Group Inc. boosted its stake in shares of Apple by 24.1% during the 1st quarter. New England Professional Planning Group Inc. now owns 4,944 shares of the iPhone maker’s stock valued at $848,000 after buying an additional 960 shares during the period. Inspirion Wealth Advisors LLC boosted its stake in shares of Apple by 0.8% during the 1st quarter. Inspirion Wealth Advisors LLC now owns 59,274 shares of the iPhone maker’s stock valued at $10,164,000 after buying an additional 482 shares during the period. Finally, Community Bank of Raymore boosted its stake in shares of Apple by 8.6% during the 1st quarter. Community Bank of Raymore now owns 22,534 shares of the iPhone maker’s stock valued at $3,864,000 after buying an additional 1,785 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

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.