Apple (NASDAQ:AAPL) Price Target Lowered to at Piper Sandler

Apple (NASDAQ:AAPL) had its target price trimmed by Piper Sandler from to in a research note published on Tuesday morning, The Fly reports.

A number of other equities research analysts also recently issued reports on the company. Piper Jaffray Companies increased their price target on Apple from $290.00 to $305.00 and gave the stock an outperform rating in a research report on Friday, December 20th. Sanford C. Bernstein reissued a hold rating and set a $300.00 price target on shares of Apple in a research report on Tuesday, February 18th. Oppenheimer raised Apple from a market perform rating to an outperform rating and set a $320.00 price target on the stock in a research report on Sunday, March 1st. Robert W. Baird reissued a buy rating and set a $360.00 price target on shares of Apple in a research report on Tuesday, February 18th. Finally, Raymond James increased their price target on Apple from $280.00 to $360.00 and gave the stock an outperform rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $305.00.

Shares of NASDAQ AAPL traded down $1.36 during trading hours on Tuesday, reaching $245.52. 75,697,420 shares of the stock were exchanged, compared to its average volume of 75,562,544. The firm has a market capitalization of $1,074.27 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.64 and a beta of 1.30. Apple has a 52 week low of $170.27 and a 52 week high of $327.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.56 and a current ratio of 1.60. The stock’s fifty day simple moving average is $289.96 and its 200 day simple moving average is $270.14.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.54 by $0.45. The business had revenue of $91.80 billion for the quarter, compared to the consensus estimate of $88.41 billion. Apple had a return on equity of 60.19% and a net margin of 21.49%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.18 earnings per share. Research analysts predict that Apple will post 13.05 EPS for the current fiscal year.

In other news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $304.11, for a total value of $434,573.19. Following the completion of the transaction, the director now directly owns 1,134,712 shares in the company, valued at approximately $345,077,266.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Korea Investment CORP raised its position in Apple by 6.3% during the 4th quarter. Korea Investment CORP now owns 3,753,051 shares of the iPhone maker’s stock worth $1,102,083,000 after purchasing an additional 221,800 shares during the last quarter. Atlas Private Wealth Management bought a new position in Apple during the 4th quarter worth $4,730,000. Blair William & Co. IL raised its position in Apple by 2.0% during the 4th quarter. Blair William & Co. IL now owns 2,568,117 shares of the iPhone maker’s stock worth $754,128,000 after purchasing an additional 49,316 shares during the last quarter. Altshuler Shaham Ltd raised its position in Apple by 2,180.0% during the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 109 shares during the last quarter. Finally, AMG National Trust Bank raised its position in Apple by 2.7% during the 4th quarter. AMG National Trust Bank now owns 5,974 shares of the iPhone maker’s stock worth $1,754,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 60.69% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Read More: Hold Rating

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