Apple (NASDAQ:AAPL) PT Lowered to $186.00

Apple (NASDAQ:AAPL) had its price objective lowered by stock analysts at Barclays from $187.00 to $186.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the iPhone maker’s stock. Barclays‘s target price would suggest a potential downside of 14.82% from the stock’s current price.

Other analysts have also issued reports about the stock. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday. Sanford C. Bernstein increased their price objective on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Citigroup boosted their price objective on shares of Apple from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush restated an “outperform” rating and set a $275.00 target price on shares of Apple in a report on Thursday, July 11th. Finally, Cfra boosted their price target on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $233.97.

Apple Price Performance

Shares of AAPL stock opened at $218.36 on Friday. The company has a market capitalization of $3.35 trillion, a P/E ratio of 33.96, a P/E/G ratio of 2.64 and a beta of 1.24. The company’s 50-day simple moving average is $213.16 and its two-hundred day simple moving average is $191.00. Apple has a one year low of $164.07 and a one year high of $237.23. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 earnings per share. As a group, equities analysts anticipate that Apple will post 6.61 EPS for the current year.

Apple announced that its board has approved a stock repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apple

A number of hedge funds have recently bought and sold shares of the business. Christopher J. Hasenberg Inc purchased a new stake in shares of Apple during the first quarter worth about $35,000. Fidelis Capital Partners LLC boosted its holdings in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the 4th quarter worth approximately $39,000. Gilfoyle & Co LLC raised its holdings in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. lifted its position in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

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.