Barclays Lowers Apple (NASDAQ:AAPL) Price Target to $184.00

Apple (NASDAQ:AAPL) had its price objective cut by equities research analysts at Barclays from $186.00 to $184.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the iPhone maker’s stock. Barclays‘s target price points to a potential downside of 17.46% from the company’s current price.

Other research analysts have also issued reports about the stock. Robert W. Baird raised their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Rosenblatt Securities boosted their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush restated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Loop Capital upped their target price on shares of Apple to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Tigress Financial raised their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $236.23.

Apple Stock Performance

Shares of AAPL stock opened at $222.91 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple has a 12-month low of $164.07 and a 12-month high of $237.49. The business’s 50 day moving average is $227.18 and its two-hundred day moving average is $212.33. The company has a market capitalization of $3.39 trillion, a P/E ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.15. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Analysts expect that Apple will post 6.6 EPS for the current fiscal year.

Insider Activity

In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apple

Several large investors have recently bought and sold shares of AAPL. Bellwether Advisors LLC raised its holdings in Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after acquiring an additional 19,352 shares in the last quarter. Gentry Private Wealth LLC purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $876,000. WT Asset Management Ltd acquired a new stake in shares of Apple in the 2nd quarter valued at $80,057,000. TD Asset Management Inc raised its holdings in shares of Apple by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after purchasing an additional 1,557,848 shares in the last quarter. Finally, Councilmark Asset Management LLC purchased a new stake in shares of Apple during the 1st quarter worth $11,776,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

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.