Apple (NASDAQ:AAPL) Price Target Lowered to $200.00 at Oppenheimer

Apple (NASDAQ:AAPL) had its price target reduced by Oppenheimer from $220.00 to $200.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the iPhone maker’s stock.

A number of other equities analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Apple from $180.00 to $210.00 and gave the stock a buy rating in a research report on Monday, July 24th. KeyCorp reaffirmed a sector weight rating on shares of Apple in a report on Monday. Morgan Stanley reduced their price target on Apple from $215.00 to $210.00 and set an overweight rating for the company in a research report on Monday, October 16th. Credit Suisse Group reissued an outperform rating and issued a $220.00 price target on shares of Apple in a report on Friday, September 15th. Finally, Rosenblatt Securities restated a neutral rating and issued a $198.00 price target on shares of Apple in a research report on Tuesday, September 12th. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $198.80.

Apple Stock Up 1.2 %

Apple stock opened at $170.29 on Monday. Apple has a 1-year low of $124.17 and a 1-year high of $198.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The stock has a market capitalization of $2.66 trillion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.33 and a beta of 1.28. The business has a fifty day moving average price of $177.09 and a 200-day moving average price of $179.31.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter last year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts forecast that Apple will post 6.04 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s dividend payout ratio is presently 16.13%.

Insider Activity

In related news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 69,785 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $177.00, for a total value of $12,351,945.00. Following the transaction, the chief operating officer now directly owns 489,817 shares of the company’s stock, valued at approximately $86,697,609. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock valued at $79,238,767 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Apple

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after buying an additional 8,734,393 shares during the last quarter. Berkshire Hathaway Inc increased its stake in Apple by 2.3% during the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after purchasing an additional 20,424,207 shares during the last quarter. State Street Corp boosted its holdings in shares of Apple by 0.5% during the second quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock valued at $112,288,818,000 after acquiring an additional 2,616,084 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Apple by 116,483.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after purchasing an additional 569,066,184 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Apple by 2.2% in the second quarter. Geode Capital Management LLC now owns 291,538,165 shares of the iPhone maker’s stock worth $56,396,763,000 after buying an additional 6,367,053 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors.

About Apple

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.