Apple’s (AAPL) Neutral Rating Reaffirmed at New Street Research

Apple (NASDAQ:AAPL)‘s stock had its “neutral” rating reiterated by equities research analysts at New Street Research in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $225.00 price objective on the iPhone maker’s stock. New Street Research’s price target points to a potential downside of 0.61% from the company’s previous close.

A number of other research firms also recently issued reports on AAPL. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. Evercore ISI reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research note on Monday, September 16th. UBS Group lifted their price objective on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Barclays reduced their price objective on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Finally, Piper Sandler Companies reissued a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.76.

Apple Stock Performance

NASDAQ:AAPL traded down $1.00 on Wednesday, hitting $226.37. The stock had a trading volume of 8,808,024 shares, compared to its average volume of 61,829,285. The stock has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The business’s 50-day simple moving average is $222.10 and its two-hundred day simple moving average is $201.22. Apple has a 52-week low of $164.07 and a 52-week high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the firm earned $1.26 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts predict that Apple will post 6.7 earnings per share for the current year.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AAPL. Yeomans Consulting Group Inc. bought a new stake in Apple in the fourth quarter valued at about $1,713,000. Raleigh Capital Management Inc. lifted its holdings in Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after buying an additional 1,643 shares during the period. GLOBALT Investments LLC GA bought a new position in Apple during the fourth quarter worth about $38,406,000. Barden Capital Management Inc. lifted its holdings in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after acquiring an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC bought a new position in Apple during the fourth quarter worth about $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

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.