Apple (NASDAQ:AAPL) Given Underweight Rating at Barclays

Apple (NASDAQ:AAPL)‘s stock had its “underweight” rating reiterated by stock analysts at Barclays in a note issued to investors on Tuesday, Benzinga reports. They currently have a $186.00 price target on the iPhone maker’s stock. Barclays‘s price target indicates a potential downside of 17.59% from the stock’s current price.

Other analysts also recently issued reports about the company. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. The Goldman Sachs Group increased their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $238.76.

Apple Stock Down 3.1 %

AAPL stock traded down $7.31 during trading on Tuesday, reaching $225.69. 27,432,410 shares of the stock were exchanged, compared to its average volume of 61,506,914. The firm’s 50 day moving average is $222.37 and its 200 day moving average is $202.80. Apple has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market cap of $3.46 trillion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping 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 business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts forecast that Apple will post 6.7 EPS for the current year.

Insider Transactions at Apple

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

Institutional Investors Weigh In On Apple

Institutional investors and hedge funds have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc bought a new position in Apple during the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC grew its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple in the fourth quarter worth approximately $39,000. Hershey Financial Advisers LLC bought a new position in shares of Apple in the second quarter worth approximately $42,000. Finally, University of Texas Texas AM Investment Managment Co. grew its holdings in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other 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.