Apple (NASDAQ:AAPL) Given New $230.00 Price Target at DA Davidson

Apple (NASDAQ:AAPL) had its target price lowered by DA Davidson from $290.00 to $230.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the iPhone maker’s stock.

Several other research firms have also issued reports on AAPL. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Apple in a report on Monday. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and lowered their price objective for the company from $202.33 to $167.88 in a research report on Wednesday, April 9th. Bank of America dropped their target price on shares of Apple from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Finally, Raymond James increased their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Friday, April 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $235.85.

Apple Stock Up 2.2 %

AAPL stock opened at $202.52 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 32.15, a P/E/G ratio of 2.44 and a beta of 1.26. The business has a fifty day moving average price of $222.27 and a 200-day moving average price of $230.99. Apple has a 1-year low of $164.08 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Apple will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,451 shares of company stock worth $40,818,720. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

A number of hedge funds have recently bought and sold shares of the business. Amara Financial LLC. purchased a new position in Apple in the 3rd quarter valued at $288,000. Sterling Investment Counsel LLC boosted its position 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 acquiring an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners grew its position in shares of Apple by 12.8% in the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in Apple by 4.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after buying an additional 3,935 shares in the last quarter. Finally, Narwhal Capital Management grew its stake in shares of Apple by 2.5% in the 3rd quarter. Narwhal Capital Management now owns 276,791 shares of the iPhone maker’s stock valued at $64,492,000 after buying an additional 6,711 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.