Apple (NASDAQ:AAPL) PT Raised to $185.00 at Citigroup

Apple (NASDAQ:AAPL) had its price objective lifted by research analysts at Citigroup to $185.00 in a report released on Wednesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the iPhone maker’s stock. Citigroup’s price target would suggest a potential downside of 19.76% from the stock’s previous close.

AAPL has been the subject of a number of other research reports. Cfra increased their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their price target for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Bank of America restated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Moffett Nathanson started coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 target price for the company. Finally, Melius Research restated a “buy” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.27.

Apple Trading Down 0.1 %

NASDAQ AAPL opened at $230.57 on Wednesday. The firm’s fifty day moving average price is $226.64 and its 200 day moving average price is $209.48. Apple has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. On average, sell-side analysts expect that Apple will post 6.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Apple

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bull Oak Capital LLC grew its position in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. Cordant Inc. grew its holdings in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. Finally, Access Investment Management LLC acquired a new stake in Apple during the 1st quarter worth approximately $140,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

About Apple

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.