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.
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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