Apple (NASDAQ:AAPL) Price Target Cut to $200.00

Apple (NASDAQ:AAPLGet Rating) had its target price lowered by research analysts at Deutsche Bank Aktiengesellschaft from $210.00 to $200.00 in a research report issued on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 22.22% from the company’s current price.

A number of other equities research analysts also recently weighed in on AAPL. New Street Research raised Apple from a “sell” rating to a “neutral” rating and set a $165.00 target price on the stock in a report on Friday, January 28th. Citigroup reaffirmed a “buy” rating and issued a $200.00 target price on shares of Apple in a report on Wednesday, January 19th. Deutsche Bank Rese… set a $210.00 target price on Apple in a report on Friday, April 8th. Sanford C. Bernstein reaffirmed a “hold” rating and issued a $170.00 target price on shares of Apple in a report on Wednesday, January 19th. Finally, Loop Capital raised their target price on Apple from $165.00 to $210.00 and gave the company a “buy” rating in a report on Friday, January 14th. Eight investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $189.07.

Shares of NASDAQ:AAPL opened at $163.64 on Friday. The company has a market capitalization of $2.67 trillion, a P/E ratio of 27.09, a P/E/G ratio of 2.16 and a beta of 1.19. Apple has a 1 year low of $122.25 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.04 and a quick ratio of 1.00. The business’s 50 day simple moving average is $165.89 and its 200 day simple moving average is $164.81.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.09. The business had revenue of $97.28 billion for the quarter, compared to the consensus estimate of $93.99 billion. Apple had a return on equity of 149.81% and a net margin of 26.58%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 earnings per share. On average, sell-side analysts anticipate that Apple will post 6.16 EPS for the current fiscal year.

In other news, Director Arthur D. Levinson sold 1,986 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $173.29, for a total value of $344,153.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 3rd. The shares were sold at an average price of $174.78, for a total value of $4,369,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,085 shares of company stock valued at $30,047,365. Corporate insiders own 0.06% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dark Forest Capital Management LP acquired a new position in Apple during the 3rd quarter valued at about $29,000. Cardinal Capital Management Inc. boosted its stake in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new position in Apple during the 4th quarter valued at about $41,000. St. James Investment Advisors LLC acquired a new position in Apple during the 4th quarter valued at about $57,000. Finally, Econ Financial Services Corp acquired a new position in Apple during the 4th quarter valued at about $58,000. Institutional investors own 57.98% of the company’s stock.

About Apple (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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