Apple (NASDAQ:AAPL) had its price target lowered by analysts at Barclays from $174.00 to $170.00 in a report released on Friday. The firm presently has an “equal weight” rating on the iPhone maker’s stock. Barclays’ price objective indicates a potential upside of 5.92% from the company’s current price.
AAPL has been the topic of a number of other reports. Rosenblatt Securities reissued a “hold” rating and set a $150.00 target price on shares of Apple in a research report on Sunday, October 15th. Citigroup reissued a “buy” rating and set a $200.00 target price (up from $170.00) on shares of Apple in a research report on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 target price on Apple and gave the stock a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research raised Apple from a “hold” rating to a “buy” rating and set a $197.00 target price on the stock in a research report on Thursday, January 18th. Finally, Pacific Crest raised Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 target price on the stock in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $202.53.
Shares of Apple (NASDAQ AAPL) traded down $7.28 during trading hours on Friday, hitting $160.50. The stock had a trading volume of 85,940,481 shares, compared to its average volume of 29,740,000. The firm has a market capitalization of $788,300.00, a P/E ratio of 16.51, a P/E/G ratio of 1.36 and a beta of 1.33. Apple has a 12 month low of $128.16 and a 12 month high of $180.10. The company has a current ratio of 1.28, a quick ratio of 1.23 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 that occurred on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total value of $1,004,544.00. Following the completion of the transaction, the senior vice president now owns 81,560 shares in the company, valued at approximately $14,224,064. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the completion of the transaction, the insider now owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock valued at $22,115,155 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its holdings in Apple by 301.3% during the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after acquiring an additional 15,018,790 shares during the period. Harbour Capital Advisors LLC grew its holdings in Apple by 14,030.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock worth $31,352,000 after acquiring an additional 4,483,360 shares during the period. Truepoint Inc. grew its holdings in Apple by 15,559.4% during the 3rd quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock worth $4,437,000 after acquiring an additional 4,408,441 shares during the period. Capital Research Global Investors grew its holdings in Apple by 15.0% during the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after acquiring an additional 3,845,363 shares during the period. Finally, Stifel Financial Corp grew its holdings in Apple by 9,166.4% during the 3rd quarter. Stifel Financial Corp now owns 3,883,754 shares of the iPhone maker’s stock worth $598,497,000 after acquiring an additional 3,841,842 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was reported by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/03/apple-aapl-price-target-cut-to-170-00-by-analysts-at-barclays.html.
About Apple
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.
