DA Davidson Cuts Apple (NASDAQ:AAPL) Price Target to $230.00

Apple (NASDAQ:AAPL) had its price target lowered by analysts at DA Davidson from $290.00 to $230.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the iPhone maker’s stock. DA Davidson’s target price suggests a potential upside of 13.78% from the stock’s previous close.

Several other research analysts also recently commented on AAPL. TD Cowen reissued a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Morgan Stanley decreased their target price on Apple from $252.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Redburn Partners set a $230.00 price target on Apple in a report on Friday, January 31st. Citigroup reissued a “buy” rating on shares of Apple in a report on Wednesday, April 2nd. Finally, Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.85.

Apple Stock Down 0.2 %

Shares of NASDAQ AAPL opened at $202.14 on Monday. Apple has a 52-week low of $164.08 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business has a fifty day moving average of $221.65 and a two-hundred day moving average of $230.79. The stock has a market cap of $3.04 trillion, a PE ratio of 32.09, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, equities research analysts expect that Apple will post 7.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,451 shares of company stock worth $40,818,720. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Several large investors have recently made changes to their positions in AAPL. Drystone LLC bought a new position in shares of Apple in the 4th quarter valued at about $25,000. Bull Oak Capital LLC lifted its stake in Apple by 252.3% in the 3rd 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 last quarter. Life Planning Partners Inc acquired a new stake in Apple in the 4th quarter valued at about $47,000. Conquis Financial LLC bought a new position in Apple during the fourth quarter worth about $63,000. Finally, LSV Asset Management acquired a new position in Apple during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 67.73% 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.