Apple (NASDAQ:AAPL) Price Target Cut to $215.00 by Analysts at Loop Capital

Apple (NASDAQ:AAPL - Get Free Report) had its target price cut by equities researchers at Loop Capital from $230.00 to $215.00 in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a "hold" rating on the iPhone maker's stock. Loop Capital's price target would suggest a potential upside of 1.79% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Bank of America cut their price objective on shares of Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Moffett Nathanson reissued a "sell" rating and set a $188.00 price objective (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Monness Crespi & Hardt raised their price target on Apple to $245.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. China Renaissance initiated coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price target for the company. Finally, Argus raised Apple to a "strong-buy" rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $232.63.

Apple Price Performance

Shares of NASDAQ AAPL opened at $211.21 on Wednesday. The firm has a market cap of $3.17 trillion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. Apple has a 1-year low of $169.11 and a 1-year high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a fifty day simple moving average of $214.32 and a two-hundred day simple moving average of $229.06.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Analysts anticipate that Apple will post 7.28 earnings per share for the current year.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares in the company, valued at $941,214. This represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,021 shares of company stock worth $41,760,140. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apple

A number of institutional investors have recently modified their holdings of AAPL. Drystone LLC bought a new position in Apple in the fourth quarter worth about $25,000. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter worth approximately $47,000. Elite Financial Inc. acquired a new position in Apple during the 1st quarter valued at approximately $58,000. Conquis Financial LLC bought a new position in Apple during the 4th quarter worth $63,000. Finally, LSV Asset Management bought a new stake in Apple in the fourth quarter valued at $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.

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