Apple (NASDAQ:AAPL) Earns “Underweight” Rating from Barclays

Barclays reiterated their underweight rating on shares of Apple (NASDAQ:AAPL) in a report published on Tuesday, Benzinga reports. They currently have a $186.00 price objective on the iPhone maker’s stock.

Other analysts have also recently issued reports about the company. TD Cowen increased their target price on Apple from $220.00 to $250.00 and gave the stock a buy rating in a research note on Monday, July 29th. Wedbush reaffirmed an outperform rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. DA Davidson raised Apple from a neutral rating to a buy rating and lifted their price target for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. Moffett Nathanson initiated coverage on shares of Apple in a research note on Monday, August 19th. They set a neutral rating and a $211.00 price target for the company. Finally, Robert W. Baird lifted their price target on shares of Apple from $200.00 to $240.00 and gave the company an outperform rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of Moderate Buy and a consensus target price of $238.76.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $225.67 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm has a market cap of $3.46 trillion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The business has a fifty day moving average of $222.72 and a 200-day moving average of $203.50. Apple has a twelve month low of $164.07 and a twelve month high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Apple will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 458,619 shares of company stock valued at $101,352,630. 0.06% of the stock is owned by insiders.

Institutional Trading of Apple

Several institutional investors have recently modified their holdings of the business. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple in the first quarter valued at about $35,000. Fidelis Capital Partners LLC increased its position in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new position in Apple during the 4th quarter worth approximately $39,000. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter valued at $42,000. Finally, University of Texas Texas AM Investment Managment Co. raised its stake in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Company Profile

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.