Apple (NASDAQ:AAPL) Price Target Cut to $210.00

Apple (NASDAQ:AAPL) had its price objective dropped by Citigroup from $220.00 to $210.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the iPhone maker’s stock. Citigroup’s price target would indicate a potential upside of 23.29% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 target price on the stock. in a report on Wednesday, January 10th. Sanford C. Bernstein upgraded Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective on the stock in a report on Monday. UBS Group reissued a “hold” rating and set a $190.00 target price on shares of Apple in a research note on Monday, March 25th. Loop Capital decreased their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $200.00 price target on shares of Apple in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.62.

Apple Price Performance

AAPL stock opened at $170.33 on Monday. Apple has a 1 year low of $164.07 and a 1 year high of $199.62. 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 firm has a market capitalization of $2.63 trillion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The business has a 50 day simple moving average of $172.64 and a 200-day simple moving average of $181.71.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Apple will post 6.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the company’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 completion of the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,271 shares of company stock valued at $63,653,887. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Apple

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. Wyrmwood Management LLC grew its holdings in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the period. Christopher J. Hasenberg Inc purchased a new stake in shares of Apple during the 1st quarter worth $35,000. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple during the 4th quarter worth $39,000. Gilfoyle & Co LLC increased its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. increased its holdings in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Institutional investors and hedge funds own 60.41% 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.