A number of firms have modified their ratings and price targets on shares of Apple (NASDAQ: AAPL) recently:
- 4/23/2024 – Apple had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $158.00 price target on the stock.
- 4/22/2024 – Apple had its price target lowered by analysts at Morgan Stanley from $220.00 to $210.00. They now have an “overweight” rating on the stock.
- 4/17/2024 – Apple is now covered by analysts at Maxim Group. They set a “hold” rating and a $178.00 price target on the stock.
- 4/16/2024 – Apple had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $220.00 price target on the stock.
- 4/11/2024 – Apple had its price target lowered by analysts at JPMorgan Chase & Co. from $215.00 to $210.00. They now have an “overweight” rating on the stock.
- 4/9/2024 – Apple had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $250.00 price target on the stock.
- 4/1/2024 – Apple had its price target lowered by analysts at Loop Capital from $185.00 to $170.00. They now have a “hold” rating on the stock.
- 3/28/2024 – Apple had its “hold” rating reaffirmed by analysts at DZ Bank AG. They now have a $180.00 price target on the stock.
- 3/25/2024 – Apple had its “hold” rating reaffirmed by analysts at UBS Group AG. They now have a $190.00 price target on the stock.
- 3/22/2024 – Apple had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $220.00 price target on the stock.
- 3/21/2024 – Apple had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $250.00 price target on the stock.
- 3/5/2024 – Apple had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $189.00 price target on the stock.
- 2/28/2024 – Apple had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $250.00 price target on the stock.
Apple Stock Performance
Shares of AAPL traded down $0.59 on Friday, reaching $169.30. The company’s stock had a trading volume of 44,526,164 shares, compared to its average volume of 60,314,906. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $2.61 trillion, a P/E ratio of 26.37, a PEG ratio of 2.04 and a beta of 1.27. The stock’s 50 day simple moving average is $173.30 and its two-hundred day simple moving average is $181.85. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 earnings per share. Research analysts forecast that Apple Inc. will post 6.54 earnings per share for the current fiscal year.
Apple Dividend Announcement
Insider Buying and Selling at Apple
In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The shares were 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 of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock valued at $63,653,887 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in AAPL. Schmidt P J Investment Management Inc. lifted its stake in Apple by 1.2% in the first quarter. Schmidt P J Investment Management Inc. now owns 159,171 shares of the iPhone maker’s stock worth $27,295,000 after acquiring an additional 1,955 shares during the period. Horizon Financial Services LLC lifted its stake in Apple by 20.5% in the first quarter. Horizon Financial Services LLC now owns 4,225 shares of the iPhone maker’s stock worth $725,000 after acquiring an additional 718 shares during the period. SlateStone Wealth LLC lifted its stake in Apple by 2.6% in the first quarter. SlateStone Wealth LLC now owns 321,745 shares of the iPhone maker’s stock worth $55,172,000 after acquiring an additional 8,136 shares during the period. Coastline Trust Co lifted its stake in Apple by 6.5% in the first quarter. Coastline Trust Co now owns 194,472 shares of the iPhone maker’s stock worth $33,348,000 after acquiring an additional 11,921 shares during the period. Finally, Guild Investment Management Inc. lifted its stake in Apple by 2.2% in the first quarter. Guild Investment Management Inc. now owns 16,528 shares of the iPhone maker’s stock worth $2,834,000 after acquiring an additional 360 shares during the period. 60.41% of the stock is currently owned by institutional investors.
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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