Apple (NASDAQ:AAPL) PT Lowered to $210.00 at Morgan Stanley

Apple (NASDAQ:AAPLGet Free Report) had its price target cut by equities research analysts at Morgan Stanley from $220.00 to $210.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the iPhone maker’s stock. Morgan Stanley’s price target would suggest a potential upside of 27.27% from the stock’s previous close.

A number of other brokerages have also commented on AAPL. Piper Sandler Companies lowered Apple to a “neutral” rating and cut their price target for the company from $220.00 to $205.00 in a research note on Thursday, January 4th. UBS Group reiterated a “hold” rating and set a $190.00 price target on shares of Apple in a report on Monday, March 25th. Bank of America raised Apple from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $208.00 to $225.00 in a report on Thursday, January 18th. Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Wednesday, January 10th. Finally, Robert W. Baird raised their price objective on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.05.

View Our Latest Report on AAPL

Apple Price Performance

Shares of NASDAQ:AAPL opened at $165.00 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $2.55 trillion, a PE ratio of 25.70, a PEG ratio of 1.99 and a beta of 1.27. The firm has a 50 day moving average of $174.67 and a 200-day moving average of $182.17. Apple has a 12 month low of $162.80 and a 12 month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 earnings per share. On average, equities research analysts predict that Apple will post 6.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 366,271 shares of company stock valued at $63,653,887. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marmo Financial Group LLC grew its holdings in Apple by 56.5% during the 1st quarter. Marmo Financial Group LLC now owns 1,681 shares of the iPhone maker’s stock valued at $288,000 after buying an additional 607 shares in the last quarter. Edge Financial Advisors LLC bought a new position in shares of Apple in the 1st quarter worth approximately $5,305,000. Benchmark Financial Wealth Advisors LLC grew its position in Apple by 1.5% during the first quarter. Benchmark Financial Wealth Advisors LLC now owns 37,527 shares of the iPhone maker’s stock valued at $6,435,000 after buying an additional 546 shares during the period. Cohen Investment Advisors LLC boosted its stake in shares of Apple by 2.1% during the 1st quarter. Cohen Investment Advisors LLC now owns 46,335 shares of the iPhone maker’s stock worth $7,945,000 after acquiring an additional 951 shares during the last quarter. Finally, Kesler Norman & Wride LLC grew its position in shares of Apple by 11.3% during the 1st quarter. Kesler Norman & Wride LLC now owns 77,461 shares of the iPhone maker’s stock valued at $13,283,000 after acquiring an additional 7,858 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

(Get Free Report)

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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Analyst Recommendations for Apple (NASDAQ:AAPL)

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