Apple (NASDAQ:AAPL) Price Target Lowered to $170.00 at Loop Capital

Apple (NASDAQ:AAPLFree Report) had its price target reduced by Loop Capital from $185.00 to $170.00 in a report published on Monday morning, Marketbeat reports. Loop Capital currently has a hold rating on the iPhone maker’s stock.

Other equities research analysts have also recently issued reports about the stock. DA Davidson initiated coverage on shares of Apple in a research report on Wednesday, January 3rd. They set a neutral rating and a $166.00 price target on the stock. Citigroup restated a buy rating and set a $225.00 price objective on shares of Apple in a research note on Friday, February 16th. Rosenblatt Securities restated a neutral rating and set a $189.00 price objective on shares of Apple in a research note on Tuesday, March 5th. Bank of America upgraded shares of Apple from a neutral rating to a buy rating and upped their price target for the company from $208.00 to $225.00 in a research note on Thursday, January 18th. Finally, Wedbush reiterated an outperform rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $204.23.

Check Out Our Latest Report on Apple

Apple Trading Down 0.8 %

Shares of NASDAQ AAPL opened at $170.03 on Monday. The company’s fifty day moving average is $180.75 and its 200-day moving average is $182.63. The stock has a market cap of $2.63 trillion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 2.07 and a beta of 1.27. Apple has a twelve month low of $159.78 and a twelve month high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 EPS. Equities research analysts predict that Apple will post 6.55 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio (DPR) is currently 14.95%.

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Several large investors have recently modified their holdings of AAPL. Moneta Group Investment Advisors LLC grew its holdings in Apple by 116,483.5% in 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 during the period. Norges Bank bought a new position in shares of Apple in the fourth quarter valued at $33,912,466,000. International Assets Investment Management LLC lifted its stake in shares of Apple by 14,395.4% in the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after buying an additional 70,212,651 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Apple by 23.7% in the fourth quarter. Legal & General Group Plc now owns 138,461,076 shares of the iPhone maker’s stock valued at $26,657,911,000 after buying an additional 26,572,012 shares in the last quarter. Finally, Morgan Stanley lifted its stake 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 valued at $27,110,586,000 after buying an additional 25,926,552 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

About Apple

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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.

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