Apple Inc. (NASDAQ:AAPL – Get Free Report)’s stock price gapped down before the market opened on Tuesday after Barclays lowered their price target on the stock from $184.00 to $183.00. The stock had previously closed at $229.98, but opened at $224.00. Barclays currently has an underweight rating on the stock. Apple shares last traded at $221.45, with a volume of 16,863,271 shares.
Several other research firms have also commented on AAPL. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Tuesday. New Street Research reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Wells Fargo & Company raised their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Citigroup raised their target price on shares of Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $237.99.
Get Our Latest Stock Analysis on Apple
Insiders Place Their Bets
Institutional Trading of Apple
Hedge funds have recently modified their holdings of the stock. Bull Oak Capital LLC increased its stake in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc increased its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new position in Apple during the 3rd quarter worth $71,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Apple during the 3rd quarter worth $77,000. Institutional investors own 67.73% of the company’s stock.
Apple Stock Up 0.5 %
The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $3.37 trillion, a PE ratio of 36.81, a P/E/G ratio of 2.25 and a beta of 1.20. The stock’s fifty day simple moving average is $241.09 and its 200-day simple moving average is $230.82.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.
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.
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