Apple (NASDAQ:AAPL) Shares Down 0.8% on Analyst Downgrade

Apple (NASDAQ:AAPL)  Shares Down 0.8%  on Analyst Downgrade


Apple Inc. (NASDAQ:AAPL – Get Free Report)’s stock price was down 0.8% during mid-day trading on Tuesday 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 $168.23 and last traded at $168.75. Approximately 14,165,459 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 60,968,703 shares. The stock had previously closed at $170.03.

AAPL has been the topic of a number of other research reports. Redburn Atlantic lowered Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research note on Wednesday, January 10th. Piper Sandler Companies lowered Apple to a “neutral” rating and lowered their target price for the stock from $220.00 to $205.00 in a research note on Thursday, January 4th. Barclays lowered their target price on Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a research note on Friday, February 2nd. The Goldman Sachs Group increased their target price on Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Citigroup reiterated a “buy” rating and set a $225.00 target price on shares of Apple in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.23.

View Our Latest Analysis on AAPL

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following 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 document filed with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Hedge funds have recently modified their holdings of the company. Kingdom Financial Group LLC. boosted its holdings in shares of Apple by 5.5% during the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock valued at $1,963,000 after acquiring an additional 598 shares in the last quarter. RFG Advisory LLC raised its position in Apple by 13.6% during the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after purchasing an additional 20,737 shares during the last quarter. Headinvest LLC raised its position in Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the last quarter. Tsfg LLC raised its position in Apple by 2.2% during the 3rd quarter. Tsfg LLC now owns 50,943 shares of the iPhone maker’s stock worth $8,722,000 after purchasing an additional 1,091 shares during the last quarter. Finally, State Street Corp raised its position in Apple by 0.5% during the 2nd quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock worth $112,288,818,000 after purchasing an additional 2,616,084 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

The firm has a market capitalization of $2.61 trillion, a P/E ratio of 26.30, a price-to-earnings-growth 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 company has a 50-day moving average of $180.27 and a 200-day moving average of $182.59.

Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.88 EPS. On average, equities analysts anticipate that Apple Inc. will post 6.55 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

About Apple

(Get Free Report)

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.

Recommended Stories



Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

You must be logged in to post a comment Login