Apple (NASDAQ:AAPL) Trading Down 1.3% on Analyst Downgrade

Apple Inc. (NASDAQ:AAPL)’s stock price was down 1.3% during trading on Thursday after Morgan Stanley lowered their price target on the stock from $275.00 to $252.00. Morgan Stanley currently has an overweight rating on the stock. Apple traded as low as $213.65 and last traded at $214.15. Approximately 14,522,662 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 53,210,851 shares. The stock had previously closed at $216.98.

A number of other research analysts have also weighed in on the company. DA Davidson set a $290.00 target price on Apple in a report on Friday, January 31st. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday, January 21st. Barclays raised their price target on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Monness Crespi & Hardt increased their price objective on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Wedbush restated an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Monday, March 3rd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.22.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Apple

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. PKO Investment Management Joint Stock Co purchased a new stake in shares of Apple during the 4th quarter worth approximately $20,785,000. Northstar Financial Companies Inc. bought a new position in shares of Apple in the 4th quarter valued at about $9,967,000. Centaurus Financial Inc. grew its position in Apple by 2.9% in the fourth quarter. Centaurus Financial Inc. now owns 208,239 shares of the iPhone maker’s stock worth $52,147,000 after acquiring an additional 5,797 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in Apple in the fourth quarter worth about $7,977,000. Finally, Campbell Deegan Wealth Management LLC bought a new stake in Apple during the fourth quarter worth approximately $2,044,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

The firm has a market capitalization of $3.22 trillion, a PE ratio of 33.99, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50-day simple moving average of $235.80 and a 200-day simple moving average of $234.00.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Apple’s dividend payout ratio is presently 15.87%.

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.