Apple (NASDAQ:AAPL) Price Target Cut to $165.00

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Apple (NASDAQ:AAPL) had its price target trimmed by Goldman Sachs Group from $187.00 to $165.00 in a report published on Friday, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the iPhone maker’s stock.

A number of other brokerages have also recently commented on AAPL. Nomura increased their target price on Apple from $180.00 to $185.00 and gave the company a neutral rating in a report on Wednesday, July 31st. Daiwa Capital Markets set a $223.00 target price on Apple and gave the company a buy rating in a report on Wednesday, August 7th. Longbow Research reissued a hold rating on shares of Apple in a report on Tuesday, September 10th. Raymond James raised Apple from a market perform rating to an outperform rating and set a $250.00 target price for the company in a report on Thursday, July 18th. Finally, Barclays increased their target price on Apple from $192.00 to $207.00 and gave the company an equal weight rating in a report on Wednesday, September 11th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $217.25.

NASDAQ AAPL opened at $218.75 on Friday. The stock has a market capitalization of $1,008.16 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.85 and a beta of 1.24. Apple has a twelve month low of $142.00 and a twelve month high of $233.47. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average of $207.36 and a 200 day moving average of $196.71.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. The company had revenue of $53.81 billion during the quarter, compared to analysts’ expectations of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. Apple’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 EPS. Equities analysts predict that Apple will post 11.68 EPS for the current fiscal year.

In related news, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the completion of the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at $246,290,577.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,536 shares of company stock valued at $62,894,611. Insiders own 0.05% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Centaurus Financial Inc. grew its position in Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after acquiring an additional 1,262 shares during the period. Semmax Financial Advisors Inc. purchased a new position in Apple in the fourth quarter worth approximately $50,000. Avondale Wealth Management grew its position in Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after acquiring an additional 64 shares during the period. NuWave Investment Management LLC grew its position in Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after acquiring an additional 449 shares during the period. Finally, Horan Securities Inc. grew its position in Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after acquiring an additional 221 shares during the period. Institutional investors own 58.77% of the company’s stock.

About Apple

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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Analyst Recommendations for Apple (NASDAQ:AAPL)

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