Moffett Nathanson Has Lowered Expectations for Apple (NASDAQ:AAPL) Stock Price

Apple (NASDAQ:AAPL) had its target price reduced by research analysts at Moffett Nathanson from $211.00 to $202.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a “neutral” rating on the iPhone maker’s stock. Moffett Nathanson’s target price points to a potential downside of 11.79% from the stock’s current price.

Several other research analysts also recently weighed in on AAPL. UBS Group upped their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. TD Cowen boosted their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Maxim Group boosted their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Apple Price Performance

Shares of NASDAQ AAPL opened at $229.00 on Tuesday. The firm has a market cap of $3.46 trillion, a P/E ratio of 37.66, a PEG ratio of 2.20 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a 50 day moving average of $227.47 and a 200 day moving average of $217.40. Apple has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Apple will post 7.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s 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 completion of the transaction, 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 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock valued at $92,007,745. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AAPL. Fidelis Capital Partners LLC grew its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. Bull Oak Capital LLC grew its position in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the second quarter valued at about $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% in the third 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 during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the third quarter valued at about $77,000. 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.