Apple (NASDAQ:AAPL) Price Target Lowered to $202.00 at Moffett Nathanson

23 Nov 2024, 06:50 by Mitch Edgeman · The Markets Daily

Apple (NASDAQ:AAPL – Free Report) had its target price reduced by Moffett Nathanson from $211.00 to $202.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. Moffett Nathanson currently has a neutral rating on the iPhone maker’s stock.

A number of other equities analysts have also weighed in on the stock. Bank of America reiterated a “buy” rating and issued a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Raymond James raised their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Maxim Group lifted their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Get Our Latest Report on Apple

Apple Stock Up 0.6 %

Shares of NASDAQ:AAPL opened at $229.87 on Tuesday. Apple has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.47 trillion, a PE ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. The firm has a 50 day simple moving average of $227.73 and a 200-day simple moving average of $217.81.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the company posted $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Apple will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last quarter. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Granite Investment Partners LLC lifted its holdings in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp increased its holdings in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares during the period. Bellwether Advisors LLC boosted its stake in shares of Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares in the last quarter. Finally, Gentry Private Wealth LLC acquired a new stake in shares of Apple during the 2nd quarter valued at about $876,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Company Profile

(Get Free Report)