Apple (AAPL) PT Set at $162.00 by Barclays

Apple (NASDAQ:AAPL) has been given a $162.00 price objective by research analysts at Barclays in a research note issued on Wednesday. The brokerage presently has a “neutral” rating on the iPhone maker’s stock. Barclays’ target price points to a potential downside of 7.44% from the stock’s previous close.

Several other analysts have also recently commented on the company. Drexel Hamilton restated a “buy” rating and set a $208.00 target price on shares of Apple in a report on Tuesday, October 24th. Citigroup reiterated a “buy” rating and issued a $200.00 price target on shares of Apple in a report on Wednesday, December 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 price target (up previously from $196.00) on shares of Apple in a report on Tuesday, October 31st. Vetr cut Apple from a “buy” rating to a “hold” rating and set a $171.48 price target on the stock. in a report on Monday, October 30th. Finally, Nomura set a $185.00 price target on Apple and gave the company a “buy” rating in a report on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus target price of $198.70.

Shares of Apple (NASDAQ:AAPL) traded up $1.98 during mid-day trading on Wednesday, hitting $175.01. The stock had a trading volume of 7,519,863 shares, compared to its average volume of 26,790,000. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $899,270.00, a PE ratio of 19.04, a PEG ratio of 1.41 and a beta of 1.23. Apple has a 12 month low of $115.81 and a 12 month high of $177.20.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.50 earnings per share. equities research analysts forecast that Apple will post 11.18 earnings per share for the current year.

In other news, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the sale, the insider now owns 81,560 shares of the company’s stock, valued at $14,246,900.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $169.69, for a total value of $2,654,121.29. Following the sale, the insider now directly owns 17,341 shares in the company, valued at approximately $2,942,594.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,771 shares of company stock worth $19,381,421. 0.08% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Arthur M. Cohen & Associates LLC bought a new position in Apple in the first quarter valued at approximately $11,184,000. Stone House Investment Management LLC bought a new position in Apple in the first quarter valued at approximately $225,000. Artisan Partners Limited Partnership grew its stake in Apple by 20.7% in the first quarter. Artisan Partners Limited Partnership now owns 507,053 shares of the iPhone maker’s stock valued at $72,843,000 after purchasing an additional 86,925 shares in the last quarter. Alley Co LLC grew its stake in Apple by 5.5% in the first quarter. Alley Co LLC now owns 38,849 shares of the iPhone maker’s stock valued at $5,581,000 after purchasing an additional 2,015 shares in the last quarter. Finally, Barber Financial Group Inc. grew its stake in Apple by 2.2% in the first quarter. Barber Financial Group Inc. now owns 12,795 shares of the iPhone maker’s stock valued at $1,838,000 after purchasing an additional 280 shares in the last quarter. 59.61% of the stock is currently owned by institutional investors and hedge funds.

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About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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