Apple (AAPL) PT Lowered to $225.00 at Jefferies Financial Group

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Apple (NASDAQ:AAPL) had its price target dropped by stock analysts at Jefferies Financial Group from $265.00 to $225.00 in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the iPhone maker’s stock. Jefferies Financial Group’s price target points to a potential upside of 34.63% from the company’s previous close.

Several other research analysts also recently issued reports on AAPL. Macquarie set a $214.00 price objective on Apple and gave the company a “buy” rating in a research note on Tuesday, August 21st. Bank of America reissued a “buy” rating and set a $250.00 target price (up previously from $230.00) on shares of Apple in a research report on Tuesday, August 21st. Morgan Stanley reissued a “buy” rating and set a $232.00 target price on shares of Apple in a research report on Wednesday, August 22nd. Royal Bank of Canada reissued a “buy” rating and set a $225.00 target price on shares of Apple in a research report on Monday, August 27th. Finally, HSBC set a $205.00 target price on shares of Apple and gave the company a “buy” rating in a research report on Thursday, August 30th. Three analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and twenty-four have given a buy rating to the stock. Apple currently has an average rating of “Hold” and an average price target of $221.72.

Shares of Apple stock traded up $1.06 on Wednesday, hitting $167.13. The stock had a trading volume of 5,577,720 shares, compared to its average volume of 38,278,232. Apple has a twelve month low of $150.24 and a twelve month high of $233.47. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09. The company has a market capitalization of $805.79 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.18 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company had revenue of $62.90 billion during the quarter, compared to the consensus estimate of $61.55 billion. During the same quarter in the prior year, the firm posted $2.07 earnings per share. The firm’s revenue was up 19.6% compared to the same quarter last year. Equities analysts anticipate that Apple will post 13.33 EPS for the current year.

In related news, insider Chris Kondo sold 3,408 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $190.00, for a total value of $647,520.00. Following the transaction, the insider now directly owns 8,940 shares in the company, valued at approximately $1,698,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Luca Maestri sold 100,245 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $228.56, for a total value of $22,911,997.20. Following the completion of the transaction, the insider now owns 91,665 shares in the company, valued at $20,950,952.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 204,845 shares of company stock valued at $47,015,677. Insiders own 0.06% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Schnieders Capital Management LLC increased its holdings in Apple by 4.4% in the 1st quarter. Schnieders Capital Management LLC now owns 45,380 shares of the iPhone maker’s stock worth $7,614,000 after acquiring an additional 1,933 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Apple by 0.4% during the 1st quarter. Artisan Partners Limited Partnership now owns 482,515 shares of the iPhone maker’s stock valued at $80,956,000 after buying an additional 2,004 shares in the last quarter. Matarin Capital Management LLC purchased a new position in Apple during the 1st quarter valued at about $10,043,000. Toronto Dominion Bank grew its holdings in Apple by 3.0% during the 1st quarter. Toronto Dominion Bank now owns 3,200,991 shares of the iPhone maker’s stock valued at $536,936,000 after buying an additional 93,445 shares in the last quarter. Finally, KLCM Advisors Inc. grew its holdings in Apple by 21.1% during the 1st quarter. KLCM Advisors Inc. now owns 13,021 shares of the iPhone maker’s stock valued at $2,185,000 after buying an additional 2,265 shares in the last quarter. Institutional investors own 57.08% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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