Apple Inc. (NASDAQ:AAPL – Get Free Report)’s share price fell 1.1% on Monday after Loop Capital lowered their price target on the stock from $185.00 to $170.00. Loop Capital currently has a hold rating on the stock. Apple traded as low as $169.54 and last traded at $169.58. 15,879,975 shares traded hands during trading, a decline of 74% from the average session volume of 61,242,250 shares. The stock had previously closed at $171.48.
Several other analysts have also commented on the stock. Monness Crespi & Hardt raised their price objective on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Barclays lowered their price objective on shares of Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a report on Friday, February 2nd. Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Apple in a report on Friday, February 2nd. Rosenblatt Securities restated a “neutral” rating and issued a $189.00 price objective on shares of Apple in a report on Tuesday, March 5th. Finally, DZ Bank restated a “hold” rating and issued a $180.00 price objective on shares of Apple in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $204.23.
Insiders Place Their Bets
In other 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Apple
A number of hedge funds have recently modified their holdings of AAPL. Atlantic Private Wealth LLC purchased a new position in shares of Apple during the 1st quarter valued at $30,000. Wyrmwood Management LLC lifted its stake in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple during the 4th quarter valued at $39,000. Gilfoyle & Co LLC lifted its stake in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. Finally, Summit Wealth Group LLC lifted its stake in Apple by 16,252.3% in the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.
Apple Stock Performance
The firm has a market cap of $2.63 trillion, a PE ratio of 26.45, a PEG ratio of 2.07 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The firm’s 50 day simple moving average is $180.75 and its 200 day simple moving average is $182.63.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.88 EPS. On average, research analysts forecast that Apple Inc. will post 6.55 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s payout ratio is currently 14.95%.
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.