Piper Sandler Trims Apple (NASDAQ:AAPL) Target Price to

Apple (NASDAQ:AAPL) had its price objective decreased by Piper Sandler from to in a note issued to investors on Tuesday, The Fly reports.

A number of other analysts have also recently commented on the company. Sanford C. Bernstein reiterated a “hold” rating and set a $300.00 price objective on shares of Apple in a research report on Tuesday, February 18th. Needham & Company LLC cut Apple from a “strong-buy” rating to a “buy” rating and upped their price objective for the company from $280.00 to $350.00 in a research report on Monday, January 6th. Rosenblatt Securities upped their price objective on Apple from $150.00 to $250.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Oppenheimer upgraded Apple from a “market perform” rating to an “outperform” rating and set a $320.00 price objective for the company in a research report on Sunday, March 1st. Finally, Raymond James upped their price objective on Apple from $280.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have assigned a buy rating to the company. Apple has an average rating of “Buy” and an average price target of $303.07.

Apple stock traded up $12.94 during mid-day trading on Tuesday, reaching $258.46. 62,954,365 shares of the stock traded hands, compared to its average volume of 76,273,264. The stock has a market capitalization of $1,110.76 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.30. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.60 and a quick ratio of 1.56. Apple has a 12-month low of $170.27 and a 12-month high of $327.85. The business’s 50-day moving average is $288.49 and its 200-day moving average is $270.30.

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

In related news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.11, for a total transaction of $434,573.19. Following the completion of the sale, the director now owns 1,134,712 shares in the company, valued at $345,077,266.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.05% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth about $13,759,345,000. Wealth Quarterback LLC purchased a new stake in shares of Apple during the fourth quarter worth about $3,783,310,000. Johanson Financial Advisors Inc. grew its position in shares of Apple by 29,161.0% during the fourth quarter. Johanson Financial Advisors Inc. now owns 16,895,866 shares of the iPhone maker’s stock worth $57,543,000 after purchasing an additional 16,838,124 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its position in shares of Apple by 23.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 8,532,304 shares of the iPhone maker’s stock worth $2,505,440,000 after purchasing an additional 1,610,137 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Apple by 9.2% during the fourth quarter. Jennison Associates LLC now owns 14,039,994 shares of the iPhone maker’s stock worth $4,122,844,000 after purchasing an additional 1,183,091 shares in the last quarter. Hedge funds and other 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.

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