Apple (NASDAQ:AAPL) had its price target reduced by equities researchers at Morgan Stanley from $205.00 to $200.00 in a research note issued to investors on Thursday. The firm presently has an “overweight” rating on the iPhone maker’s stock. Morgan Stanley’s target price would suggest a potential upside of 16.88% from the company’s current price.
Other research analysts have also issued research reports about the stock. Drexel Hamilton reaffirmed a “buy” rating and issued a $208.00 price target on shares of Apple in a research note on Monday, October 9th. UBS Group reaffirmed a “buy” rating and issued a $180.00 price target on shares of Apple in a research note on Monday, October 9th. Vetr lowered shares of Apple from a “strong-buy” rating to a “buy” rating and set a $173.47 price target on the stock. in a research note on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $175.00 price target (up previously from $172.00) on shares of Apple in a research note on Wednesday, October 4th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $196.00 price target on shares of Apple in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Apple presently has a consensus rating of “Buy” and an average price target of $200.70.
Apple (NASDAQ AAPL) traded down $3.11 during trading on Thursday, reaching $171.11. 41,435,853 shares of the company traded hands, compared to its average volume of 26,790,000. Apple has a twelve month low of $120.28 and a twelve month high of $180.10. The company has a market cap of $878,530.00, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.
In related news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now directly owns 81,560 shares in the company, valued at $14,224,064. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $169.69, for a total transaction of $2,654,121.29. Following the transaction, the insider now owns 17,341 shares in the company, valued at $2,942,594.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,412 shares of company stock worth $22,115,155. 0.08% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Berkshire Hathaway Inc. increased its holdings in shares of Apple by 0.6% in the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after purchasing an additional 834,854 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after purchasing an additional 3,845,363 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Apple by 1.1% in the third quarter. Legal & General Group Plc now owns 26,393,202 shares of the iPhone maker’s stock valued at $4,067,559,000 after purchasing an additional 287,027 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Apple by 9.3% in the third quarter. Janus Henderson Group PLC now owns 21,854,159 shares of the iPhone maker’s stock valued at $3,367,571,000 after purchasing an additional 1,850,572 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Apple by 3.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 19,262,302 shares of the iPhone maker’s stock valued at $3,259,868,000 after purchasing an additional 570,279 shares during the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.
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Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
