Apple (NASDAQ:AAPL) Given New $280.00 Price Target at The Goldman Sachs Group

Apple (NASDAQ:AAPL) had its price target decreased by research analysts at The Goldman Sachs Group from $286.00 to $280.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the iPhone maker’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 25.09% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Piper Sandler reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Citigroup raised their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. UBS Group reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Apple in a report on Monday, December 2nd. Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Evercore ISI restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $238.14.

Apple Trading Up 0.5 %

Shares of Apple stock opened at $223.83 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a fifty day moving average of $241.07 and a 200 day moving average of $230.77. The company has a market capitalization of $3.37 trillion, a P/E ratio of 36.81, a P/E/G ratio of 2.18 and a beta of 1.20. Apple has a fifty-two week low of $164.07 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue 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. On average, sell-side analysts anticipate that Apple will post 7.43 earnings per share for the current fiscal year.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. O Connor Financial Group LLC increased its position in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock valued at $896,000 after acquiring an additional 41 shares during the period. 1620 Investment Advisors Inc. raised its holdings in Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after purchasing an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the period. Verus Financial Partners Inc. boosted its stake in Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares in the last quarter. Finally, Menard Financial Group LLC increased its position in shares of Apple by 0.4% during the 3rd quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock valued at $2,848,000 after purchasing an additional 48 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.