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

Apple (NASDAQ:AAPL) had its price objective lowered by Morgan Stanley from $220.00 to $210.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the iPhone maker’s stock. Morgan Stanley’s price objective would indicate a potential upside of 25.82% from the company’s current price.

AAPL has been the topic of a number of other research reports. Wedbush reiterated an “outperform” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, April 9th. Piper Sandler dropped their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Robert W. Baird lifted their price objective on shares of Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Tuesday, April 16th. Finally, DZ Bank restated 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, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Apple Trading Up 0.6 %

Shares of AAPL stock opened at $166.90 on Monday. The stock has a market cap of $2.58 trillion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The firm’s 50 day moving average price is $173.88 and its two-hundred day moving average price is $182.03. Apple has a fifty-two week low of $162.80 and a fifty-two week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 earnings per share. On average, analysts anticipate that Apple will post 6.54 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingdom Financial Group LLC. lifted its holdings in shares of Apple by 5.5% during the third quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock valued at $1,963,000 after acquiring an additional 598 shares during the period. RFG Advisory LLC lifted its holdings in shares of Apple by 13.6% during the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock valued at $29,589,000 after acquiring an additional 20,737 shares during the period. Headinvest LLC lifted its holdings in shares of Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after acquiring an additional 872 shares during the period. Sound Income Strategies LLC increased its stake in shares of Apple by 16.1% in the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after buying an additional 10,425 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in shares of Apple by 6.9% in the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock valued at $829,240,000 after buying an additional 279,311 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

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.