Apple (NASDAQ:AAPL) has been given a $155.00 price objective by investment analysts at New Street Research in a research report issued to clients and investors on Tuesday, TipRanks reports. The firm currently has a “sell” rating on the iPhone maker’s stock. New Street Research’s price objective points to a potential downside of 30.68% from the company’s current price.
Several other brokerages have also issued reports on AAPL. Citigroup boosted their price target on Apple from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Maxim Group reduced their price objective on shares of Apple from $211.00 to $204.00 and set a “hold” rating for the company in a research report on Wednesday. Rosenblatt Securities reiterated a “sell” rating and issued a $150.00 price objective on shares of Apple in a research note on Monday, July 8th. Wedbush reiterated an “outperform” rating and set a $245.00 target price on shares of Apple in a research report on Monday. Finally, Credit Suisse Group set a $209.00 target price on shares of Apple and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Apple has a consensus rating of “Hold” and an average price target of $219.62.
Apple stock traded up $6.89 during trading hours on Tuesday, reaching $223.59. 41,217,957 shares of the company’s stock were exchanged, compared to its average volume of 28,887,482. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The firm’s 50 day simple moving average is $207.16 and its 200 day simple moving average is $196.48. Apple has a twelve month low of $142.00 and a twelve month high of $233.47. The firm has a market capitalization of $967.87 billion, a PE ratio of 18.77, a PEG ratio of 1.77 and a beta of 1.24.
In other news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,376 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The disclosure for this sale can be found here. Insiders sold 304,536 shares of company stock worth $62,894,611 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AAPL. Invesco Ltd. boosted its position in Apple by 2.6% in the second quarter. Invesco Ltd. now owns 46,879,136 shares of the iPhone maker’s stock worth $9,278,319,000 after purchasing an additional 1,203,705 shares during the last quarter. Morgan Stanley grew its stake in Apple by 5.8% in the 2nd quarter. Morgan Stanley now owns 36,261,306 shares of the iPhone maker’s stock valued at $7,176,836,000 after purchasing an additional 1,996,126 shares during the period. Nuveen Asset Management LLC increased its position in shares of Apple by 2,874.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock valued at $7,108,275,000 after purchasing an additional 34,707,634 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apple by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 20,240,790 shares of the iPhone maker’s stock worth $4,006,058,000 after purchasing an additional 161,912 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Apple by 1.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,752,244 shares of the iPhone maker’s stock worth $2,721,844,000 after purchasing an additional 214,362 shares during the period. Institutional investors and hedge funds own 58.77% of the company’s stock.
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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