Apple (NASDAQ:AAPL) Price Target Lowered to $245.00 at JPMorgan Chase & Co.

Apple (NASDAQ:AAPL) had its target price lowered by JPMorgan Chase & Co. from $270.00 to $245.00 in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the iPhone maker’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 21.20% from the stock’s previous close.

Several other research analysts have also weighed in on AAPL. Bank of America dropped their price target on Apple from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Raymond James increased their price target on shares of Apple to $250.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and dropped their price objective for the company from $202.33 to $167.88 in a research note on Wednesday, April 9th. Finally, Wedbush decreased their target price on shares of Apple from $325.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $235.85.

Apple Stock Performance

Shares of AAPL opened at $202.14 on Monday. Apple has a one year low of $164.08 and a one year high of $260.10. The company has a 50-day moving average of $221.65 and a two-hundred day moving average of $230.79. 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 cap of $3.04 trillion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts expect that Apple will post 7.28 earnings per share for the current year.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,451 shares of company stock worth $40,818,720. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AAPL. O Connor Financial Group LLC lifted its position in shares of Apple by 1.2% during the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after buying an additional 41 shares during the period. 1620 Investment Advisors Inc. raised its stake 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 acquiring an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC lifted its holdings in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the period. Advanced Portfolio Management LLC lifted its holdings in shares of Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the period. Finally, Menard Financial Group LLC boosted its stake in shares of Apple by 0.4% in 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 in the last quarter. Institutional investors and hedge funds own 67.73% 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.