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.
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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