Citigroup Lowers Apple (NASDAQ:AAPL) Price Target to $210.00

Apple (NASDAQ:AAPL) had its price target cut by stock analysts at Citigroup from $220.00 to $210.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the iPhone maker’s stock. Citigroup’s price objective would indicate a potential upside of 20.05% from the stock’s current price.

Several other equities research analysts also recently commented on AAPL. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Apple in a research note on Friday, February 2nd. Rosenblatt Securities reiterated a “neutral” rating and issued a $189.00 price target on shares of Apple in a research note on Tuesday, March 5th. Maxim Group began coverage on shares of Apple in a research note on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target for the company. Monness Crespi & Hardt increased their price target on shares of Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, DZ Bank reiterated a “hold” rating and issued a $180.00 price target on shares of Apple in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $202.62.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $5.63 during trading hours on Monday, reaching $174.93. The stock had a trading volume of 21,258,071 shares, compared to its average volume of 59,903,074. The business’s fifty day moving average is $173.04 and its two-hundred day moving average is $181.83. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market cap of $2.70 trillion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.04 and a beta of 1.27. Apple has a twelve month low of $164.07 and a twelve month high of $199.62.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Apple will post 6.54 EPS for the current year.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last quarter. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Apple

Several institutional investors have recently made changes to their positions in the company. Caliber Wealth Management LLC lifted its holdings in Apple by 4.3% during the third quarter. Caliber Wealth Management LLC now owns 16,457 shares of the iPhone maker’s stock valued at $2,818,000 after purchasing an additional 680 shares during the last quarter. Janiczek Wealth Management LLC grew its position in Apple by 72.5% during the third quarter. Janiczek Wealth Management LLC now owns 35,821 shares of the iPhone maker’s stock valued at $6,133,000 after acquiring an additional 15,056 shares during the last quarter. HB Wealth Management LLC grew its position in Apple by 7.4% during the third quarter. HB Wealth Management LLC now owns 906,664 shares of the iPhone maker’s stock valued at $155,230,000 after acquiring an additional 62,513 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in Apple by 12.9% during the third quarter. Redhawk Wealth Advisors Inc. now owns 52,566 shares of the iPhone maker’s stock valued at $9,000,000 after acquiring an additional 6,013 shares during the last quarter. Finally, Capital Investment Services of America Inc. grew its holdings in shares of Apple by 2.5% in the third quarter. Capital Investment Services of America Inc. now owns 9,938 shares of the iPhone maker’s stock worth $1,702,000 after purchasing an additional 243 shares during the last quarter. 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.