Apple (NASDAQ:AAPL) Rating Reiterated by KeyCorp

Apple (NASDAQ:AAPL)‘s stock had its “overweight” rating reissued by analysts at KeyCorp in a research report issued on Thursday, Benzinga reports. They presently have a $200.00 price target on the iPhone maker’s stock. KeyCorp’s price objective points to a potential upside of 14.28% from the stock’s previous close.

A number of other research firms have also recently commented on AAPL. Oppenheimer upped their price objective on Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Rosenblatt Securities restated a “neutral” rating and issued a $198.00 price target on shares of Apple in a research report on Tuesday. Morgan Stanley reduced their price target on Apple from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Bank of America reduced their price target on Apple from $210.00 to $208.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, StockNews.com assumed coverage on Apple in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Ten investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.41.

Apple Stock Down 0.4 %

Apple stock opened at $175.01 on Thursday. The stock has a market cap of $2.74 trillion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 2.54 and a beta of 1.27. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. Apple has a one year low of $124.17 and a one year high of $198.23. The stock has a fifty day moving average of $185.01 and a 200 day moving average of $175.05.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. Apple’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, sell-side analysts predict that Apple will post 6.05 EPS for the current year.

Insider Activity

In other news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Several institutional investors have recently modified their holdings of AAPL. Moneta Group Investment Advisors LLC lifted its stake in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after purchasing an additional 569,066,184 shares during the last quarter. Norges Bank purchased a new stake in shares of Apple in the fourth quarter worth approximately $21,746,940,000. Morgan Stanley raised its holdings in shares of Apple by 14.2% in the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after buying an additional 25,926,552 shares during the period. Berkshire Hathaway Inc raised its holdings in shares of Apple by 2.3% in the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after buying an additional 20,424,207 shares during the period. Finally, Barclays PLC raised its holdings in shares of Apple by 60.0% in the second quarter. Barclays PLC now owns 46,932,352 shares of the iPhone maker’s stock worth $9,103,464,000 after buying an additional 17,604,799 shares during the period. 58.51% of the stock is owned by institutional investors.

Apple Company Profile

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.